The conceptual framework that the Financial Accounting Standards Board (FASB)and the International Accounting Standards Board (IASB)are attempting to converge and enhance includes the following broad areas to guide standard setting except:
A)Objectives
B)Qualitative characteristics
C)Uniformity
D)Elements
E)Recognition and measurement

Question

Quizplus · Accepted Answer

The conceptual framework that the FASB and IASB are trying to converge and enhance includes the objectives of financial reporting, qualitative characteristics of useful financial information, elements of financial statements, and recognition and measurement principles. Uniformity is not one of the broad areas of the conceptual framework.

The Conceptual Framework That the Financial Accounting Standards Board (FASB)and