Question 1 The Conceptual Framework is A) No longer used since the adoption of FASB in...

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Question 1 The Conceptual Framework is A) No longer used since the adoption of FASB in...

Question 1

The Conceptual Framework is

A) No longer used since the adoption of FASB in 1973

B) Now required through section 404 of the Sarbanes-Oxley Act

C) The underlying foundation for accounting standards

D) Very detailed and specific rules that must be followed for financial reporting

business accounting

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Answer 1

Answer #1

Option D is the answer

The conceptual framework is very detailed and specific rules that must be followed for the financial reporting.

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Answer 2

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Question 1 The Conceptual Framework is A) No longer used since the adoption of FASB in...

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