Which of the following is not correct about the conceptual framework in accounting?
A. It is the basis for standard-setting for accounting standard setting bodies.
B. It is based on fundamental accounting truths derived from the laws of nature.
C. It can be used to solve emerging or complex accounting problems.
D. It can be used to develop consistent and comparable accounting principles.
Answer:B
Which of the following is not correct about the conceptual framework in accounting?
A. It is the basis for standard-setting for accounting standard setting bodies. B. It is based on fundamental accounting truths derived from the laws of nature. C. It can be used to solve emerging or complex accounting problems. D. It can be used to develop consistent and comparable accounting principles.