Which of the Following Is NOT a Purpose of the Conceptual

question 6

Multiple Choice

Which of the following is NOT a purpose of the conceptual framework of accounting?

• A) To provide definitions of key terms and fundamental concepts
• B) To provide specific guidelines for resolving situations not covered by existing accounting standards
• C) To assist accountants and others in selecting among alternative accounting and reporting methods
• D) To assist the FASB in the standard-setting process