What are the 2 Fundamental Qualities of useful accounting information? Answers: Faithful Representation, Accuracy Relevance, Faithful Representation Timeliness, Consistency Relevance, Materiality
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Question 22
What are the 2 Fundamental Qualities of useful accounting information? |
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- Which of the following is a fundamental quality of useful accounting information? Select one: Comparability Consistency Relevance MaterialityWhich of the following is not a fundamental quality of useful accounting information? Group of answer choices Faithful representation. Relevance. Faithful representation and Relevance. MaterialityWhich of the following is a fundamental characteristic of accounting information? Select one: O A. Predictive Value O B. Completeness OC. Faithful Representation O D. Comparability Tin Finish
- Question 16 What are the Enhancing Qualities of the Qualitative Characteristics of accounting information? Answers: Completeness, Verifiability, Timeliness, Understandability Comparability, Neutrality, Timeliness, Understandability Comparability, Verifiability, Timeliness, Free from Error Comparability, Verifiability, Timeliness, UnderstandabilityWhat are the two fundamental qualities of accounting information? OA. Faithful representation and relevance OB. Understandability and verifiability OC. Comparability and faithful representation o D. Timeliness and understandabilityWhich of the following are the fundamental characteristics of accounting information? O a. Predictive value and feedback value. Ob. Relevance and faithful representation. Oc Relevance and verifiabilily. Od. Timeliness and understandability. O e. Verifiability and taithful representation.
- Which of the following are considered secondary characteristics of accounting information? a. verifiability and feedback value b. predictive value and timeliness c. comparability and consistency d. representational faithfulness and neutralityWhich of the following are considered secondary characteristics of accounting information? a. varifiability and feedback value b. predictive value and timeliness c. comparability and consistency d. representational faithfulness and neutralityWhat two primary qualitative characteristics make accounting information useful? Predictive value and relevance. Relevance and neutrality. Faithful representation and relevance. Faithful representation and predictive value.
- 6. Which qualitative characteristic is an ingredient of relevance? a. Verifiability b. Timeliness e. Neutrality d. representational faithfulness 7. Which of the following qualitative characteristics may have to be sacrificed in order to achieve timeliness? a. Relevance b. Reliability c. Comparability d. predictive value Which of the following are considered secondary characteristics of accounting information? a. verifiability and feedback value b. predictive value and timeliness c. comparability and consistency d. representational faithfulness and neutrality 8. The four major financial statements of a corporation consist of the a. income statement, balance sheet, statement of cash flows and statement of changes in stockholders' equity b. balance sheet, statement of cash flows, statement of retained eamings, and income 9. statement c. income statement, statement of cash flows, statement of owners' equity, and balance sheet d. statement of cash flows, balance sheet, income statement, and…are the two fundamental qualities that make accounting information useful for decision making. a. Comparability and timeliness b. Faithful representation and comparability c. Materiality and neutrality O d. Relevance and faithful representationQuestion 5 Explain in detail for the following with your own examples. a. Scope of Management Accounting b. Functions of Management Accounting c. Essentials of Effective Reports