According to the IASB Exposure Draft,a Conceptual Framework:
A) Is a coherent system of concepts that flow from an objective
B) Provides guidance on identifying the boundaries of financial reporting in selecting the transactions, other events and circumstances to be represented
C) Outlines how transactions should be recognised and measured (or disclosed)
D) All of the given options are correct

Question

Quizplus · Accepted Answer

The IASB Exposure Draft on the Conceptual Framework aims to provide a coherent system of concepts that flow from an objective, guide the boundaries of financial reporting, and outline how transactions should be recognized, measured, or disclosed.