Select the words that correctly complete the statements below. a. Standards are applications of b. and are specific implementation procedures. c. The intent of the conceptual framework reporting guidance. to differing types of transactions. is to establish objectives and fundamental concepts that are the basis for development of financial accounting and d. are the methods and practices that U.S. companies are required to use in preparing and reporting accounting information in financial statements used by external stakeholders. and decision-useful information, e. Statement of Financial Accounting Concepts No. 8 describes the relationship between 4. is the ultimate objective of accounting information. 9. The fundamental characteristics of deosion-useful information are h. Information is relevant if it has and i and Accounting information is a faithful representation of the underlying situation if it has Enhancing characteristics include and and