The underlying theme of the Conceptual Framework isGroup of answer choicesDecision usefulnessUnderstandabilityTimelinessComparability PreviousNext

The underlying theme of the Conceptual Framework in accounting is primarily related to "Decision usefulness." This concept emphasizes that financial information should be prepared and presented in a way that is useful for making decisions, especially by investors, creditors, and other users of financial statements. The aim is to provide relevant financial information that assists users in assessing the amounts, timing, and uncertainty of future cash flows, thus aiding in their economic decisions.

While other concepts such as understandability, timeliness, and comparability are also important in the conceptual framework, they serve as qualitative characteristics that support the primary goal of decision usefulness. For instance, information must not only be timely but also understandable, allowing users to make informed decisions based on that information. Comparability allows users to evaluate the financial information across different periods and entities, further enhancing its usefulness.

In summary, the correct answer would be Decision usefulness because it encapsulates the primary focus of the conceptual framework in guiding how financial information is presented and utilized in decision-making processes.