Question: 1. What is the conceptual framework for financial reporting? 2. What are two primary qualities that make financial information useful for decision making? 3. Explain

1. What is the conceptual framework for financial reporting? 2. What

1. What is the conceptual framework for financial reporting? 2. What are two primary qualities that make financial information useful for decision making? 3. Explain why the conceptual framework is needed even though there are financial reporting standards to guide financial reporting practices

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