Which of the Following Statements Is INCORRECT

question 14

Multiple Choice

Which of the following statements is INCORRECT?

• A) The Framework identifies the qualitative characteristics that make information in financial statements useful.
• B) The Framework defines principles for accounting recognition, measurement and disclosure.
• C) The Framework defines the objective of financial statements.
• D) The Framework defines the basic elements of financial statements and the concepts for recognizing and measuring them in financial statements.

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Definitions:

Converse

In logic, the converse of a conditional statement is formed by reversing its antecedent and consequent.

Contrapositive

In logic, it involves reversing and negating both the hypothesis and conclusion of a conditional statement.

Disjunctive Proposition

A statement that presents two or more alternatives, where the truth of at least one alternative means the proposition is true.

False

not true or correct; an assertion that contradicts fact or reality.