The conceptual framework for financial accounting and reporting consists of which three main components?
A)Goals,Concepts,and Exceptions.
B)Objective,Codes,and Guidelines.
C)Objective,Elements,and Concepts.
D)Concepts,Principles,and Practices.

Question

Quizplus · Accepted Answer

The conceptual framework for financial accounting and reporting has three main components: objective (of financial reporting),elements (to be measured and reported),and concepts (for measuring and reporting information).Each of these components has subparts specifying more detail.

The Conceptual Framework for Financial Accounting and Reporting Consists of Which