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  2. Topic
    Business
  3. Study Set
    Issues in Financial Accounting
  4. Exam
    Exam 2: A Conceptual Framework: Scope, reporting Entity and the Objective of Financial Report
  5. Question
    Explain and Discuss Why,when There Was Already a Large Number
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Explain and Discuss Why,when There Was Already a Large Number

Question 20

Question 20

Essay

Explain and discuss why,when there was already a large number of accounting standards on issue,accountants decided that they needed a conceptual framework.

Correct Answer:

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The decision to develop a conceptual fra...

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