A Central Goal in Establishing a Conceptual Framework of Accounting

Multiple Choice

A central goal in establishing a conceptual framework of accounting will be to obtain general consensus on:

A) the scope and objectives of financial reporting.
B) the qualitative characteristics that financial information should possess.
C) what the elements of financial reporting are, including agreement on the characteristics and recognition criteria for assets, liabilities, income, expenses and equity.
D) the scope and objectives of financial reporting and the qualitative characteristics that financial information should possess.