Which is a purpose of the conceptual framework in accounting?
A. To support principles-based accounting standards, principles and practices.
B. To provide rules from which decision-useful financial information can be developed.
C. To promote global consistency, acceptance and adoption of IFRS around the globe.
D. To develop different accounting practices between countries around the globe.
Answer:A
Which is a purpose of the conceptual framework in accounting?
A. To support principles-based accounting standards, principles and practices. B. To provide rules from which decision-useful financial information can be developed. C. To promote global consistency, acceptance and adoption of IFRS around the globe. D. To develop different accounting practices between countries around the globe.