Examlex
Which of the following concepts was referred to as a convention in SFAC No. 2?
Breach
The breaking or failing to fulfill a legal obligation, contract, or duty.
Legal Duty
An obligation established by law requiring an individual or entity to conform to a standard of reasonable care to prevent harm to others.
Incompetence
A lack of ability, legal qualifications, or fitness to discharge required duties or tasks.
Ethical Codes
Sets of guidelines and principles designed to direct the conduct of members of a profession or organization.
Q2: The greatest impact on business in the
Q4: An argument in favor of unregulated markets
Q5: This organization, _, is a leader in
Q6: What were the major effects of SFAS
Q14: Research studies have predominantly supported the naive-investor
Q25: The FASB defines comprehensive income using the
Q38: Discuss arguments supporting the need for improving
Q50: An argument supporting accounting regulation is that
Q54: Pre-SFAC No. 8, the three components of
Q56: The International Accounting Standards Board's role in