The objective of financial reporting in the International Accounting Standards Board's (IASB's) Conceptual Framework
A) Is the foundation for the Framework.
B) Includes the qualitative characteristics that make accounting information useful.
C) Is found on the third level of the Framework.
D) All of the choices are correct regarding the objective of financial reporting.

Question

Quizplus · Accepted Answer

The objective of financial reporting is the foundation for the IASB's Conceptual Framework, guiding the development of standards and the preparation of financial statements.

The Objective of Financial Reporting in the International Accounting Standards