Which of the following appears to be most influential in developing the objectives of financial reporting as well as a number of other concepts that have been used as a basis for most conceptual framework projects?
A) Accounting Principles Board (APB) Statement No 4 (1970)
B) The Trueblood Report (1973)
C) The Corporate Report (UK) (1976)
D) The Stamp Report (1980)

Question

Quizplus · Accepted Answer

The Trueblood Report (1973) is considered to be most influential in developing the objectives of financial reporting as well as a number of other concepts that have been used as a basis for most conceptual framework projects. The report was commissioned by the American Institute of Certified Public Accountants and provided a comprehensive framework for financial reporting. The other options, APB Statement No 4 (1970), The Corporate Report (UK) (1976), and The Stamp Report (1980) are also important in the development of conceptual frameworks, but not as influential as the Trueblood Report.

Which of the Following Appears to Be Most Influential in Developing