Which of the Following Statements About the Objective of General

question 33

Multiple Choice

Which of the following statements about the objective of general purpose financial reports (GPFRs) , as contained in the IASB's Conceptual Framework, is correct?

• A) GPFRs will generally satisfy user's needs for information.
• B) The IASB's Conceptual Framework deliberately emphasises sustainability as an objective of GPFRs.
• C) The entity perspective has been adopted when defining the objectives of GPFRs.
• D) The primary users of GPFRs are seen as being a diverse group including shareholders, creditors, regulators, members of the public, etc.

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Definitions:

Skew

A measure of the asymmetry or deviation from symmetry in a distribution of data, which can be positive or negative.

Data

Information collected for analysis or used to reason, discuss, or calculate something.

Significantly Distorted

Describes data or results that are heavily altered or skewed from their original or expected form, often beyond the effect of chance.

75th Percentile

The value below which 75% of the data points in a dataset lie.