Not every country uses the same conceptual framework. This lack of uniformity has arisen because
A) there are not enough members in the professional body.
B) no time is available to complete the framework.
C) there are differences in legal and government systems.
D) financial statements do not need to be comparable.

Question

Quizplus · Accepted Answer

Different countries have varying legal and government systems, which influence their accounting practices and standards, leading to a lack of uniformity in conceptual frameworks across nations.

Not Every Country Uses the Same Conceptual Framework