Which of the Following Is NOT One of the Four

question 6

Multiple Choice

Which of the following is NOT one of the four categories of acceptable financial reporting frameworks?

• A)Special purpose,compliance presentation framework.
• B)General purpose,fair presentation framework.
• C)General purpose,compliance framework.
• D)Compliance purpose,fair presentation framework.

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Definitions:

Nonnegotiable

Pertaining to a term, condition, or instrument that cannot be altered or bargained upon, often legally or contractually fixed.

Accelerated Payment

A payment method that allows for early settlement of a debt, often reducing the amount of interest.

Negotiate

The process of discussing terms and conditions to reach a mutual agreement between parties.

Check

A written order on a bank or banker payable on demand to the person named or his order or bearer and drawn by virtue of credits due the drawer from the bank created by money deposited with the bank.