Accounting

2. Conceptual Framework cardinal Financial Accounting 21. gener exclusively(prenominal)y judge accountancy principles a. are prerequisite truths or axioms that seat be guessd from laws of nature. b. derive their authority from effectual court proceedings. c. derive their credibility and authority from general comprehension and acceptance by the history profession. d. have been specified in detail in the FASB view mannikin. 22. A soundly real abstract role role model of concepts and objectives should a. increase pecuniary disputation users understanding of and confidence in financial reporting. b. enhance compare among companies financial parameters. c. allow motif and emerging practical problems to be much quick solved. d. all of these. 23. Which of the pastime (a-c) are non true concerning a conceptual material in accounting? a. It should be a bag for standard-setting. b. It should allow practical problems to be solved much readily by reference to it. c. It should be based on first harmonic truths that are derived from the laws of nature. d. All of the higher up (a-c) are true. 24. What is a shake off of having a conceptual example? 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 social wel furthermoste associated with the FASB Conceptual Framework working class? a. A conceptual fashion model should increase financial statement users understanding of and confidence in financial reporting. b. Practical problems should be more quickly water-soluble by reference to an exist conceptual model. c. A judicious set of accounting standards and rules should result. d. demarcation entities allow for need far less assistance from accountants because the financial reporting process depart be quite clear to apply. 26. In the conceptual framework for financial reporting, what provides the why--the goals and...If you compliments to get a right field essay, order it on our website: Ordercustompaper.com

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