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883/ Chapter 2 1. The basic elements of a financial accounting system include a framework for preparing financial statements. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SACC.WARR.18.2-1 - LO: 02.01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - DISC: - ACBSP: APC-01 - Purpose United States - AK - DISC: AICPA: FN-Measurement KEYWORDS: Bloom's: Remembering DATE CREATED: 7/19.

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