Indicate which of the following statements are true or false. (Write “T” or "F" beside each item.)

(a)_______ The conceptual framework includes recommendations on how “F” beside each item.) to analyze financial statements.

(b) _______The conceptual framework identifies the objective of financial reporting.

(c) _______The conceptual framework is a temporary framework that provides guidance for accountants until standard setters can develop specific rules for every situation.

(d) _______The conceptual framework defines assets, liabilities, owner’s equity, revenue, and expenses.

(e) _______The conceptual framework provides specific rules for financial statement presentation.

(f) _______The conceptual framework identifies qualitative characteristics of useful information.

(g) _______The conceptual framework provides guidance for responding to new issues and developing new standards.