Multiple Choice
Which of these is not one of the benefits of a conceptual framework?
A) Reporting requirements will be more consistent and logical
B) It may allow firms to reduce their reported profit
C) The need for specific accounting standards should be reduced
D) Standard setting boards will be more accountable for their actions
Correct Answer:
Verified
Correct Answer:
Verified
Q16: A disadvantage of rules-based standards for users
Q17: Discuss the strengths and weaknesses of principles-based
Q18: The four principal qualitative characteristics recognised by
Q19: In the 1990's there was a shift
Q20: The group proposed by the IASB and
Q22: One of the benefits of a conceptual
Q23: Which of these is not a criticism
Q24: Stating that Australia and New Zealand follow
Q25: The IASB Framework includes four principal qualitative
Q26: Taxation rules are not a source of