What is the goal of FASB and IASB in the creation of the conceptual framework? To develop standards that are internally consistent. To develop standards that lead to financial reporting that provides clear consistent information to capital providers. To develop standards that are internationally converged. All of these choices are correct.
What is the goal of FASB and IASB in the creation of the conceptual framework? To develop standards that are internally consistent. To develop standards that lead to financial reporting that provides clear consistent information to capital providers. To develop standards that are internationally converged. All of these choices are correct.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA1: International Financial Reporting Standards
Section: Chapter Questions
Problem 4MCQ
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What is the goal of FASB and IASB in the creation of the conceptual framework?
To develop standards that are internally consistent.
To develop standards that lead to financial reporting that provides clear
consistent information to capital providers.
To develop standards that are internationally converged.
All of these choices are correct.
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