An Implicit Assumption of the International Accounting Standards Board's (IASB's)

Multiple Choice

An implicit assumption of the International Accounting Standards Board's (IASB's) Conceptual Framework is that

A) Information must be decision-useful to all potential users of financial reporting.
B) General-purpose financial reporting is the primary source of information for users of financial reporting.
C) Users need reasonable knowledge of business and financial accounting matters to understand the information contained in financial statements.
D) All of the choices are correct.