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An implicit assumption of the International Accounting Standards Boards (IASBs) Conceptual Framework is that a. General-purpose financial reporting is the primary source of information for
An implicit assumption of the International Accounting Standards Boards (IASBs) Conceptual Framework is that
a.
General-purpose financial reporting is the primary source of information for users of financial reporting.
b.
Information must be decision-useful to all potential users of financial reporting.
c.
All of the choices are correct.
d.
Users need reasonable knowledge of business and financial accounting matters to understand the information contained in financial statements.
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