Choice "D" is correct. The joint FASB and IASB conceptual framework is intended to establish a common set of objectives and fundamental concepts to be used as a basis for developing financial accounting and reporting guidance.
Choice "c" is incorrect. The joint FASB and IASB conceptual framework project does not establish generally accepted accounting principles. The intent of the joint conceptual framework project is to establish a common set of objectives and fundamental concepts to be used as a basis for developing financial accounting and reporting guidance.
Choice "b" is incorrect. The structure of the FASB CodificationTM is not established by the joint FASB and IASB conceptual framework project. The FASB designed the structure of the FASB CodificationTM.
Choice "a" is incorrect. The joint conceptual framework project is intended to establish a common set of objectives and fundamental concepts to be used as a basis for developing financial accounting and reporting guidance. U.S. GAAP disclosure requirements are outlined in the FASB CodificationTM. IASB disclosure requirements are outlined in the IFRS.