Which of the following is/are false, regarding the conceptual framework for financial reporting:

1- Timeliness is one of the basic assumptions of accounting used by the IASB.

2- Companies consider only quantitative factors in determining whether an item is material.

3- The IASB has issued a conceptual framework and has agreed to develop a common conceptual framework with the FASB.

4- An enhancing quality as described by the International Accounting Standards Boards (IASBs) Conceptual Framework is comparability.

a.

2 and 3 only

b.

4 only

c.

2 only

d.

1, 2, 3 and 4

e.

3 and 4 only

f.

1 only

g.

1, 2 and 3 only

h.

1 and 2 only