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

business accounting

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Answer 1

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correct answer is option: C) The underlying foundation for accounting standards

FASB has laid out conceptual framework in 1973 to resolve or address the accounting issue. These framework are the foundation for accounting standard.

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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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