A soundly developed conceptual framework of concepts and objectives should
A)increase financial statement users' understanding of and confidence in financial reporting.
B)enhance comparability among companies' financial statements.
C)allow new and emerging practical problems to be more quickly soluble.
D)all of these.

Question

Quizplus · Accepted Answer

A soundly developed conceptual framework of concepts and objectives serves multiple purposes, including increasing financial statement users' understanding of and confidence in financial reporting, enhancing comparability among companies' financial statements, and allowing new and emerging practical problems to be more quickly soluble. Therefore, all of these options are correct.

A Soundly Developed Conceptual Framework of Concepts and Objectives Should