Which Is a Purpose of the Conceptual Framework in Accounting

question 33

Multiple Choice

Which is a purpose of the conceptual framework in accounting?

• A)To support principles-based accounting standards, principles and practices.
• B)To provide rules from which decision-useful financial information can be developed.
• C)To promote global consistency, acceptance and adoption of IFRS around the globe.
• D)To develop different accounting practices between countries around the globe.

---

Definitions:

Incoherently

Lacking logical or meaningful connection; speaking or thinking in a confused or disjointed manner.

Sleep Deprived

Sleep deprived describes a state resulting from not getting enough rest, leading to physical and cognitive impairments.

Cortisol

A steroid hormone produced by the adrenal gland, released in response to stress and low blood-glucose concentration.

Metabolic Rate

The rate at which the body uses energy, measured in calories, to maintain vital functions while at rest.