multiple choice questuons

Which is a Disadvantage of principles-based standards: Select one: O a. They supply broad guidelines for managers O b. They are simple and less complex O c. The judgements and choice of decisions means the comparability of financial statements may be reduced O d. They allow managers to use professional judgement in assessing the substance of a transaction Which of the following statements about the conceptual framework is false? Select one: a. the Conceptual Framework for Financial Reporting, SAC 1, and SAC 2 provides guidelines on the preparation of financial statements for a specific group of users. O b. The conceptual framework deals only with the objective of general purpose financial statements. O c. The Conceptual Framework for Financial Reporting provides guidelines intended to meet the information needs of a range of users who are able to command that reports be prepared to their own particular needs. O d. The conceptual framework deals only with the objective of special purpose financial statements. arch ace