The joint efforts of the FASB and the IASB to set forth qualitative characteristics of financial reporting information have led to which of the following?
A)fundamental qualitative characteristics, only
B)enhancing qualitative characteristics, only
C)pervasive constraints, only
D)fundamental qualitative characteristics, enhancing qualitative characteristics, and pervasive constraints
E)none of the above

Question

Quizplus · Accepted Answer

The joint efforts of the FASB and the IASB have led to the development of fundamental qualitative characteristics, enhancing qualitative characteristics, and pervasive constraints, which collectively define the usefulness and reliability of financial reporting information.

The Joint Efforts of the FASB and the IASB to Set