It Is Argued That the Conceptual Framework Is Descriptive,not Prescriptive,because

question 9

Multiple Choice

It is argued that the Conceptual Framework is descriptive,not prescriptive,because:

• A)It simply describes accounting principles as currently practiced and applied.
• B)Its purpose is to try to improve practice rather than simply reflecting and giving approval to existing accounting principles and practice.
• C)It describes what should happen in practice.
• D)None of the above.

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Definitions:

Currency G Weakens

A situation where the value of Currency G decreases compared to other currencies.

Currency H

Refers to a specific currency, denoted here as "H."

Exchange Rate

The monetary equivalent of one currency when converted to another.

Units

A standard quantity used in measurement or a singular item or entity.