Which of the Following Is Not One of the Major

question 26

Multiple Choice

Which of the following is not one of the major potential benefits of a conceptual framework for accounting standards setters?

• A) Improve the communication process
• B) More consistent and logical accounting standards
• C) Savings in auditing costs
• D) Improved accountability

---

Definitions:

Satisfy Customer Needs

The process of meeting or exceeding customer expectations to encourage loyalty and repeat business.

Monetary Outlay

The amount of money spent on a specific item, service, or activity.

Measure

A method or tool used to quantify or assess a variable or condition.

Value

Refers to the importance or worth that a product or service has in the eyes of the consumer, often influencing their purchasing decisions.