Worldatwork Exam T7 Topic 3 Question 89 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 89
Topic #: 3

[All T7 Questions]

One of the reasons preparers use the conceptual framework is to:

ADevelop accounting policies in the absence of specific standards

BDocument a historical record of all judgments

CDevelop alternate interpretations of specific standards

DEncourage change to standards as Board members change

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Suggested Answer: B

by Kayleigh at Jun 01, 2024, 08:44 AM

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4 days ago

I agree with Janna. It helps in providing guidance when there are no specific standards to follow.

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5 days ago

I think the reason preparers use the conceptual framework is to develop accounting policies in the absence of specific standards.

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