Conceptual Framework for Financial Reporting MCQs with Answers

Conceptual Framework for Financial Reporting Quiz with Answers

The Conceptual Framework for Financial Reporting (let’s title it just “Framework”) is a basic document that sets objectives and concepts for general-purpose financial reporting. Its predecessor, Framework for the preparation and presentation of financial statements was issued back in 1989. Then in 2010, IASB published the new document, Conceptual Framework for Financial Reporting, however, it was a bit unfinished as a few concepts and chapters were missing.

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