Which of the following is true about conceptual frameworks?
A) They lead to decreased international compatibility of accounting standards.
B) Communication between standard-setters and their constituents would be diminished.
C) Smaller organisations may feel overburdened by reporting requirements.
D) Standard-setters would be less accountable for their decisions.

Question

Quizplus · Accepted Answer

Conceptual frameworks can increase reporting requirements, which can potentially burden smaller organizations. However, they do not necessarily impact the international compatibility of accounting standards or communication between standard-setters and constituents, nor do they make standard-setters less accountable for their decisions.

Which of the Following Is True About Conceptual Frameworks