The second level in the International Accounting Standards Board's (IASB's) Conceptual Framework
A) Identifies the objective of financial reporting.
B) Identifies recognition, measurement, and disclosure concepts used in establishing and applying accounting standards.
C) Provides the elements of financial statements.
D) Includes assumptions, principles, and constraints.

Question

Quizplus · Accepted Answer

The second level of the IASB's Conceptual Framework provides the elements of financial statements, which are the building blocks for financial reporting.

The Second Level in the International Accounting Standards Board's (IASB's)