Which of the following is NOT part of the conceptual framework for financial reporting?
A) elements of financial statements
B) qualitative characteristics of accounting information
C) notes to financial statements
D) foundational principles

Question

Quizplus · Accepted Answer

Notes to financial statements are not part of the conceptual framework for financial reporting. The conceptual framework includes the elements of financial statements (such as assets, liabilities, and equity), the qualitative characteristics of accounting information (such as relevance and reliability), and the foundational principles (such as the accrual basis of accounting).

Which of the Following Is NOT Part of the Conceptual