What was the purpose of APB Statement 4, Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises?
A)To provide a foundation for evaluating existing accounting practices
B)To assist in solving accounting problems and to guide the future development of financial accounting
C)To enhance understanding of the purposes of financial accounting
D)All of the above

Question

Quizplus · Accepted Answer

APB Statement 4 aimed to provide a foundation for evaluating existing accounting practices, assist in solving accounting problems, guide the future development of financial accounting, and enhance understanding of the purposes of financial accounting.

What Was the Purpose of APB Statement 4, Basic Concepts