The conceptual framework does not include
A) the objective of financial reporting.
B) elements of financial statements.
C) recognition and measurement criteria.
D) specific standards to be followed in preparing financial statements.

Question

Quizplus · Accepted Answer

The conceptual framework provides the underlying principles and guidelines for financial reporting but does not include specific standards, which are detailed in accounting standards like IFRS or GAAP.

The Conceptual Framework Does Not Include