Which of the following documents was the first to be based on an orientation toward user relevance?
A)"Objectives of Financial Statements" (Trueblood Committee Report)
B)"Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises" (APB Statement 4)
C)"A Statement of Basic Accounting Theory" (ASOBAT)
D)"Statement of Accounting Theory and Theory Acceptance" (SATTA)

Question

Quizplus · Accepted Answer

The "A Statement of Basic Accounting Theory" (ASOBAT) was the first document to emphasize the importance of user relevance in accounting information, focusing on the needs of users in decision-making processes.

Which of the Following Documents Was the First to Be