All of the following are primary components of the conceptual framework for financial reporting except ________.
A)qualitative characteristics
B)standards
C)principles of recognition and measurement
D)elements

Question

Quizplus · Accepted Answer

The primary components of the conceptual framework for financial reporting are qualitative characteristics, principles of recognition and measurement, and elements. Standards are not considered a primary component, but rather are developed based on the framework to provide more specific guidance for financial reporting.

All of the Following Are Primary Components of the Conceptual