A Central Goal in Establishing a Conceptual Framework of Accounting

question 57

Multiple Choice

A central goal in establishing a conceptual framework of accounting will be to obtain general consensus on:

• A) the scope and objectives of financial reporting.
• B) the qualitative characteristics that financial information should possess.
• C) what the elements of financial reporting are, including agreement on the characteristics and recognition criteria for assets, liabilities, income, expenses and equity.
• D) the scope and objectives of financial reporting and the qualitative characteristics that financial information should possess.

---

Definitions:

Generalization Stimulus

The process by which a response is made in the presence of a new stimulus that is similar, but not identical, to the original conditioned stimulus.

Reinforcer

Any stimulus that strengthens or increases the probability of a specific response.

Avoidance

A behavior or mental process consciously or unconsciously designed to prevent exposure to a feared object, task, or situation.

Sunscreen

A lotion or spray applied to the skin to protect it from the harmful effects of the sun's UV rays.