Which of the following bodies was the first to introduce a conceptual framework of accounting?

Name: Which of the following bodies was the first to introduce a conceptual framework of accounting?
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Question

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The Financial Accounting Standards Board (FASB) was the first body to introduce a conceptual framework of accounting in 1973. This framework serves as the foundation for the development of accounting standards and provides a structure for solving accounting issues.

Which of the Following Bodies Was the First to Introduce