A soundly developed conceptual framework enables the International Accounting Standards Board (IASB) to
I.Issue more useful and consistent pronouncements over time.
II.More quickly solve new and emerging practical problems by referencing basic theory.
A)I only.
B)II only.
C)Both I and II.
D)Neither I nor II.

Question

Quizplus · Accepted Answer

A soundly developed conceptual framework helps the IASB issue consistent and useful standards (I) and provides a basis for solving new problems by referencing established principles (II).

A Soundly Developed Conceptual Framework Enables the International Accounting Standards