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CPA Australia CPA Financial Accounting and Reporting Exam Financial-Accounting-and-Reporting Question # 19 Topic 2 Discussion

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CPA Australia CPA Financial Accounting and Reporting Exam Financial-Accounting-and-Reporting Question # 19 Topic 2 Discussion

Financial-Accounting-and-Reporting Exam Topic 2 Question 19 Discussion:
Question #: 19
Topic #: 2

Which one of the following statements regarding the IASB's Conceptual Framework for Financial Reporting is correct?
A.

It overrides any local or international accounting standard.

B.

It specifies the concepts that underlie the preparation and presentation of special purpose financial statements.

C.

It specifies the concepts that underlie the preparation and presentation of general purpose financial statements.

D.

It specifies the concepts that underlie the preparation and presentation of only consolidated financial statements.

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Actual exam question for CPA Australia Financial-Accounting-and-Reporting exam by Zane43205 at Aug 3, 2025, 12:00:00 AM

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