Question

The "Accounting Constitution", a coherent system of interrelated objectives and fundamentals that lead to consistent standards and that prescribe the nature, function, and limits of financial accounting and reporting is referred to as the _______________framework. (Enter only one word.)

Answer 1

Answer:

accounting conceptual

Explanation:

The accounting conceptual framework is a theory that details the basic reasoning underlying the financial statements and financial reporting in general. The ACF clearly defines the objectives and users of the financial statements.