A Conceptual Framework Consists of a Set of Principles with the Purpose

question 9

Multiple Choice

A conceptual framework consists of a set of principles with the purpose to:

• A) assist users in the interpretation of information in financial statements.
• B) assist preparers of financial statements in the application of accounting standards and in dealing with topics that are not the subject of existing accounting standards.
• C) assist standard setters to develop accounting standards.
• D) all of the options are correct.