Select the most correct answer:The Conceptual Framework is technically:a.an IFRSb. an IASc.a SICd.an IFRSICe.none of the above.
Question
Select the most correct answer:The Conceptual Framework is technically:a.an IFRSb. an IASc.a SICd.an IFRSICe.none of the above.
Solution
The most correct answer is e. none of the above. The Conceptual Framework is not an IFRS, an IAS, a SIC, or an IFRSIC. It is a set of theories and concepts that underpin the preparation and presentation of financial statements.
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