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

question 74

Multiple Choice

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

• A)Provide information useful for making rational 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 and the claims on those resources.
• D)Provide information about a firm's expected operating performance during the next period.
• E)Provide information about how an enterprise obtains and uses cash.

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Definitions:

R&D

Stands for Research and Development, a business or government activity that involves the investment of resources in developing new products, services, or processes.

Total Utility

The total satisfaction or benefit obtained from consuming a particular quantity of goods or services.

Specific Amount

A specific amount refers to a particular sum or quantity of something, defined by a number or measure.

New Products

Items that have been recently developed or introduced to the market.