The conceptual framework of accounting
A) ensures that existing standards and practices are clear and consistent.
B) makes it possible to respond quickly to new issues.
C) increases the usefulness of the financial information presented in financial reports.
D) all of the above.

Question

Quizplus · Accepted Answer

The conceptual framework of accounting is designed to ensure that accounting standards and practices are clear and consistent, enable quick response to new issues, and increase the usefulness of financial information, thus encompassing all the options listed.

The Conceptual Framework of Accounting