Financial Accounting > QUESTIONS & ANSWERS > ACCOUNTING 403- CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS FINAL EXAMINATION (All)
ACCOUNTING 403- CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS FINAL EXAMINATION
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This conceptual framework of accounting refers to the qualities and attributes that make financial accounting information useful to the users. I. Fundamental qualitative characteristics III. Qualitat ... ive characteristics II. Enhancing qualitative characteristics IV. Elements of financial statements a. I & II only b. I only c. III only d. I, II, III and IV 2. Qualitative characteristics a. Are considered either fundamental or enhancing. b. Contribute to the decision-usefulness of financial reporting information. c. Distinguish better information from inferior information for decision-making purposes. d. All of the choices are correct [Show More]
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