Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 1 - Financial Accounting and Accounting Standards - IFRS Insights - IFRS Self-Test Questions - Page 34: 4



Work Step by Step

(a). The authoritative status of The Conceptual Framework for Financial Reporting is as follows: it is used when there is no standard or interpretation related to the reporting issues under consideration.
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