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 solved.
D) all of these answers are correct.

Question

Quizplus · Accepted Answer

A soundly developed conceptual framework of concepts and objectives should achieve all of the stated objectives - increasing understanding and confidence of financial reporting, enhancing comparability among financial statements, and allowing for quicker solutions to emerging problems.

A Soundly Developed Conceptual Framework of Concepts and Objectives Should