It is argued that the conceptual framework is descriptive, not prescriptive, because:
A) Its purpose is to try to improve practice rather than simply reflecting and giving approval to existing accounting principles and practice
B) It describes what should happen in practice
C) It simply describes accounting principles as currently practiced and applied
D) None of the above
Correct Answer:
Verified
Q6: The four enhancing qualitative characteristics recognised by
Q7: How does the conceptual framework differ from
Q8: Which of the following statements is correct
Q9: According to the Conceptual Framework which of
Q10: Which of the following are key parts
Q12: An element is considered probable if the
Q13: The accounting conceptual framework is what kind
Q14: Which of the following elements in the
Q15: Faithfull representation has been criticised because
A) It
Q16: The constraints on financial reporting identified under
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