Which of These Statements About the Objective of General Purpose

question 39

Multiple Choice

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

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

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Definitions:

Emotional Experiences

Intense feelings that are a response to internal or external events, often affecting mood and behavior.

Sympathetic Nervous System

part of the autonomic nervous system that prepares the body for action, often referred to as the "fight or flight" response system.

Schachter And Singer Theory

A psychological theory suggesting that emotions are determined by physiological arousal and cognitive labeling of the arousal based on environmental cues.

Demand Characteristics

Cues or signals in an experimental setting that might influence participants' behavior or responses, potentially affecting the validity of the experiment.