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The demand for accounting information by investors,lenders , creditors, etc., creates fundamental qualitative characteristics that are desirable in accounting information. There are six qualitative characteristics of accounting information: · Relevance – how helpful the information is for financial decision-making processes· Representational faithfulness or Reliability - the extent to which information accurately reflects a company’s financials· Verifiability - the extent to which information is reproducible given the same data and assumptions· Timeliness - how quickly information is available to users of accounting information· Understandability - the degree to which information is easily understood· Comparability - the degree to which accounting standards and policies are consistently applied from one period to another
Select the one which is different from the other three responses.
Choose the figure which is different from the rest.
Select the one which is different from the other three responses.
Select the one which is different from the other three responses.
Choose the figure which is different from the rest.
In each problem, out of the four figures marked (1) (2) (3) and (4), three are similar in a certain manner. However, one figure is not like the other t...
(A) Calm: Windy
(B) Happy: Sane
(C) Extravagant: Thrifty
(D) Limited: Boundless
In each problem, out of the four figures marked (1) (2) (3) and (4), three are similar in a certain manner. However, one figure is not like the other t...
Select the one which is different from the other three responses.
Choose the figure which is different from the rest.