Which of the following describe the purpose of the Conceptual Framework? (Select all that apply.) Check All That Apply It prescribes the nature, function, and limits of financial accounting and reporting It provides structure and direction to financial accounting and reporting, It sets forth the underlying concepts of accounting that guide the selection of events to be accounted for the measurement of those events, and the means of summarizing and communicating them to interested parties It prescribes the nature, function, and limits of financial accounting and reporting. It provides structure and direction to financial accounting and reporting It sets forth the underlying concepts of accounting that guide the selection of events to be accounted for the measurement of those events, and the means of summarizing and communicating them to interested parties It summaries U.S. accounting standards