Under the Conceptual Framework the preferred measurement model is:

Question

Quizplus · Accepted Answer

The Conceptual Framework does not prescribe a preferred measurement model. Rather, it suggests that measurements should provide relevant and reliable information that faithfully represents the economic phenomena being reported. Different measurement models may be appropriate in different circumstances depending on the nature of the asset or liability being measured and the user's information needs. Therefore, none of the options provided is the best choice.

Under the Conceptual Framework the Preferred Measurement Model Is