Final answer:
A soundly developed conceptual framework enables FASB to issue accounting standards. Statement is True.
Step-by-step explanation:
The statement is true.
A soundly developed conceptual framework enables the Financial Accounting Standards Board (FASB) to issue accounting standards that are consistent, relevant, and reliable.
By establishing a logical framework, FASB can provide guidance on recognizing, measuring, and reporting financial information, ensuring that companies adhere to consistent accounting practices.