Take the following as truth: 3The Trueblood Committee (named after the chairman), a group formed by the American Institute of Certified Public Accountants (AICPA) to study the objectives of financial reporting, recommended financial statements that set forth the objectives of financial accounting and reporting and provided a conceptual framework for deliberations about accounting matters.
Then the following statement: "The Trueblood Committee was formed to study financial reporting." is true, false, or inconclusive?
Answer: True