Under IFRS, the role of the conceptual framework: Multiple Choice Primarily involves guiding standard setters to make sure that standards are consistent with each other. Includes serving as a guide for practitioners when a specific standard does not apply. Is less important than in U.S. GAAP. Has resulted primarily from a convergence with U.S. GAAP.

Under IFRS, the role of the conceptual framework: Multiple Choice Primarily involves guiding standard setters to make sure that standards are consistent with each other. Includes serving as a guide for practitioners when a specific standard does not apply. Is less important than in U.S. GAAP. Has resulted primarily from a convergence with U.S. GAAP.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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