Ask Question
BusinessBusiness
10 June, 23:38

Statements of Financial Accounting Concepts issued by the FASB Identify the conceptual framework within which accounting standards are developed. Have been superseded by SFASs. Are subject to approval of the SEC. Represent GAAP.

+3
Answers (1)
  1. 10 June, 23:56
    0
    The correct answer is Identify the conceptual framework within which accounting standards are developed.

    Explanation:

    The Financial Management Concepts Statement is a document issued by the Financial Accounting Standards Board (FASB) that covers general concepts of financial information. FASB is the organization that establishes the accounting standards and guidelines that make up GAAP. The purpose of the SFAC document is to provide an overview of accounting concepts, definitions and ideas. It is considered a prelude to the Financial Accounting Standards Statement (SFAS).
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Statements of Financial Accounting Concepts issued by the FASB Identify the conceptual framework within which accounting standards are ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If the inflation rate in Mexico was twice the rate in the United States, but the Mexican monetary authorities kept the peso-dollar exchange rate almost constant, which of the following would be true? A.
Answers (1)
The principle that welfare subjects should not incur risks by participating in research when the resulting treatment would only benefit the wealthiest people is an example of:a. equalityb. justicec. autonomyd. beneficence
Answers (1)
Setting aside the political issues between North Korea and the United States, is there a reasonable way to respond to an anonymous threat found on the Internet somewhere?
Answers (1)
Where can you obtain information about the responsibilities, compensation, and career potential of a certain job?
Answers (1)
MikeMike takes a summer job cutting lawnscutting lawns. During the summer, he earns an after-tax income of $3 comma 0003,000 and he spends $2 comma 0002,000 on goods and services.
Answers (1)
New Questions in Business
Suppose that while melissa was on the coast, she also spent two days sightseeing the national parks in the area.
Answers (1)
On a large construction project, the price of dry wall is $.40 per square foot and spraying the dry wall with textured plaster is $.45 per square yard. how much must the builder pay for sprayed dry wall that is 100 square yards?
Answers (1)
Which statement describes the equity‑efficiency trade‑off? There is always a more equitable outcome that is also more efficient. Government intervention can increase efficiency in a market. The least efficient economic outcome is the fairest outcome.
Answers (1)
You would like to buy shares of Nokia (NOK). The current bid and ask quotes are $20.13 and $20.15, respectively. You place a market buy-order for 300 shares that executes at these quoted prices. How much money did it cost to buy these shares?
Answers (1)
Should the law allow someone that becomes voluntarily incapacitated through intoxication or other means escape from a contractual obligation using incapacity as a defense?
Answers (1)
Home » Business » Statements of Financial Accounting Concepts issued by the FASB Identify the conceptual framework within which accounting standards are developed. Have been superseded by SFASs. Are subject to approval of the SEC. Represent GAAP.
Sign Up Forgot Password?