A soundly developed conceptual framework of concepts and objectives should
A) increase financial statement users' understanding of and confidence in financial reporting.
B) enhance comparability among companies' financial statements.
C) allow new and emerging practical to be more quickly solved.
D) All of these answer choices are correct.

Question

Quizplus · Accepted Answer

A soundly developed conceptual framework will result in all of the benefits described in answer choices A, B, and C. It will increase users' understanding and confidence, enhance comparability of financial statements, and allow for quicker resolution of new and emerging issues.

A Soundly Developed Conceptual Framework of Concepts and Objectives Should