In regards to The Conceptual Framework for Financial Reporting,which of the following is incorrect:
A) limited sections of this were not revised under a joint project by the IASB and the FASB and issued in 2010.
B) it was issued by the IASB.
C) it derives from conceptual frameworks developed in several countries over the past 30 years.
D) the project was re‐commenced by the IASB and a Proposed Framework is expected to be enacted in 2017.
Correct Answer:
Verified
Q1: A key political benefit that may arise
Q3: How does the Conceptual Framework differ from
Q4: The IASB distinguishes between two types of
Q5: Which of the below responses is incorrect.
Q6: Accounting standards are seen to be political
Q7: Prudence is defined in the Proposed Framework
Q8: The Conceptual Framework:
A)Was a joint project between
Q9: The effective application of the concepts in
Q10: The IPSASB has issued a conceptual framework
Q11: Conceptual frameworks issued by the IASB apply
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