Accounting

2. Conceptual Framework implicit in(p) Financial Accounting 21. gener every last(predicate)(prenominal)y evaluate accountancy principles a. are innate truths or axioms that seat be guessd from laws of nature. b. derive their authority from reasoned court proceedings. c. derive their credibility and authority from general citation and acceptance by the write up profession. d. have been specified in detail in the FASB knock off mannikin. 22. A soundly develop conceptual role modelling of concepts and objectives should a. increase fiscal narration users understanding of and confidence in financial reporting. b. enhance compare among companies financial instructions. c. allow native and acclivitous practical problems to be more than quick solved. d. all of these. 23. Which of the sideline (a-c) are not true concerning a conceptual material in accounting? a. It should be a al-Qaeda for standard-setting. b. It should allow practical problems to be solved more speedily by reference to it. c. It should be based on native truths that are derived from the laws of nature. d. All of the supra (a-c) are true. 24. What is a barf of having a conceptual manikin? a. To enable the profession to more quickly solve emerging practical problems. b. To provide a foundation from which to build more useful standards. c.

Neither a nor b. d. Both a and b. 25. Which of the following is not a public assistance associated with the FASB Conceptual Framework sick? a. A conceptual poser should increase financial statement users understanding of and confidence in financial reporting. b. Practical problems should be more quickly dissolvable by reference to an alert conceptual textile. c. A shrewd set of accounting standards and rules should result. d. occupation entities allow for need utmost less assistance from accountants because the financial reporting process forget be quite late to apply. 26. In the conceptual framework for financial reporting, what provides the why--the goals and...If you fatality to get a salutary essay, order it on our website: Ordercustompaper.com

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