Objectives Of Conceptual Framework Flashcards
1
Q
What is the conceptual framework intended to establish?
A
The objectives and concepts for use in developing standards of financial accounting and reporting
2
Q
Relevance is comprised of?
A
Predictive Value
Confirmatory Value
Comparability
3
Q
Faithful Representation includes the following:
A
Neutrality
Completeness
Free from material error
Comparability
4
Q
Relevance is comprised of?
A
Predictive Value
Confirmatory Value
Comparability
5
Q
Faithful Representation includes the following:
A
Neutrality
Completeness
Free from material error
Comparability
