Asked by

Nathan Nielsen
on Oct 28, 2024

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Which qualitative characteristic is an ingredient of relevance?

A) verifiability
B) timeliness
C) neutrality
D) representational faithfulness

Qualitative Characteristic

A feature that defines or describes non-quantifiable elements of financial information, aiding in its usefulness for decision-making.

Relevance

The quality of information that makes it useful for decision-making by accurately reflecting the financial situation of a business.

Representational Faithfulness

The quality of financial information that ensures it accurately reflects an entity's transactions and events without error or bias.

  • Identify and understand the qualitative characteristics of accounting information.
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RK
Raushan Kumar 126Oct 29, 2024
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