contestada

Which of the following is not a true statement?
a. Standards are applications of concepts and principles to different types of transactions, events, and arrangements.
b. Concepts statements are narrow and open to interpretation.
c. Concepts statements and principles are broad and definitional.
d. Rules are specific implementation procedures

Respuesta :

sadddamkashmiri801

Answer:

Option B is the incorrect statement because concepts statements are always broad and define what actually concepts are. It addresses all the issues relating to the transparency of financial statements which add value to the truth and fairness of the financial statement. So conceptual framework safeguards financial statement from misstatments.

Otras preguntas