Which of these statements about the objective of general purpose financial reports (GPFRs) as contained in the IASB's Conceptual Framework is correct?
A) The entity perspective has been adopted when defining the objectives of GPFRs.
B) The primary users of GPFRs are seen as being a diverse group including shareholders, creditors, regulators, members of the public, etc.
C) GPFRs will generally satisfy user's needs for information.
D) The IASB's Conceptual Framework deliberately emphasises sustainability as an objective of GPFRs.

Question

Quizplus · Accepted Answer

The IASB's Conceptual Framework adopts the entity perspective, focusing on providing information that is useful to the primary users of financial reports, which are typically investors, lenders, and other creditors.

Which of These Statements About the Objective of General Purpose