Which of the following (a-c) are not true concerning a conceptual framework in account-ing?
A)It should be a basis for standard-setting.
B)It should allow practical problems to be solved more quickly by reference to it.
C)It should be based on fundamental truths that are derived from the laws of nature.
D)All of the above (a-c) are true.

Question

Quizplus · Accepted Answer

A conceptual framework in accounting should not be based on fundamental truths derived from the laws of nature. Instead, it should be based on fundamental principles and concepts specific to accounting. Choices A and B are true concerning a conceptual framework in accounting.

Which of the Following (A-C) Are Not True Concerning a Conceptual