The FASB's conceptual framework does not include which of the following as financial reporting objectives?
A)Provide information useful for making rational investment and credit decisions.
B)Provide information to help current and potential investors and creditors assess the amount, timing, and uncertainty of future cash flows.
C)Provide information about the economic resources of a firm and the claims on those resources.
D)Provide information about a firm's expected operating performance during the next period.
E)Provide information about how an enterprise obtains and uses cash.

Question

Quizplus · Accepted Answer

The FASB's conceptual framework includes providing information useful for making rational investment and credit decisions (A), providing information to help current and potential investors and creditors assess the amount, timing, and uncertainty of future cash flows (B), providing information about the economic resources of a firm and the claims on those resources (C), and providing information about how an enterprise obtains and uses cash (E). However, it does not include providing information about a firm's expected operating performance during the next period (D).

The FASB's Conceptual Framework Does Not Include Which of the Following