Which of the Following Is Not Correct About the Conceptual

question 60

Multiple Choice

Which of the following is not correct about the conceptual framework in accounting?

• A)It is the basis for standard-setting for accounting standard setting bodies.
• B)It is based on fundamental accounting truths derived from the laws of nature.
• C)It can be used to solve emerging or complex accounting problems.
• D)It can be used to develop consistent and comparable accounting principles.

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Definitions:

Lifespan Views

Perspectives or theories concerning the developmental stages, challenges, and growth opportunities that occur throughout a person's life.

Development

The process of growth and change in a person or organism over time, which can be physical, cognitive, or socioemotional.

Freud's

Pertaining to Sigmund Freud, the Austrian neurologist who founded psychoanalysis, particularly his theories on the unconscious mind, defense mechanisms, and psychosexual development.

Erikson's

Pertains to the theories and concepts developed by Erik Erikson, especially those related to human psychosocial development and its eight distinct stages.