The FASB's Conceptual Framework Does Not Include Which of the Following

question 7

Multiple Choice

The FASB's conceptual framework does not include which of the following as financial reporting objectives?

• A)Provide information useful for making suboptimal investment and credit decisions.
• B)Provide information to help current and potential investors and creditors assess the amount, timing, and uncertainty of future cash flows.
• C)Provide information about the economic resources of a firm's customers and the claims on those resources.
• D)Provide information about a firm's operating performance during a period.
• E)Provide information about how an enterprise obtains and uses cash.

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Definitions:

Interval estimate

An estimate of a population parameter that provides a range of values believed to contain the parameter.

Degrees of freedom

In statistics, it relates to the number of values in the final calculation of a statistic that are free to vary.

Confidence interval estimate

A range or interval of values, calculated from the sample data, within which the true population parameter is expected to lie, with a certain level of confidence.

Systolic blood pressure

The pressure in the arteries when the heart beats and fills them with blood.