Asked by Ja'Lisa Hicks on Apr 24, 2024
The two qualitative characteristics that are defined in terms of what influences or makes a difference to a decision maker are
A) faithful representation and materiality.
B) comparability and timeliness.
C) materiality and relevance.
D) relevance and understandability.
Qualitative Characteristics
Attributes that enhance the usability of financial information, including relevance and faithful representation.
- Attain knowledge of the qualitative aspects that determine the effectiveness of financial information.
- Understand the difference between fundamental and enhancing qualitative characteristics.
Learning Objectives
- Attain knowledge of the qualitative aspects that determine the effectiveness of financial information.
- Understand the difference between fundamental and enhancing qualitative characteristics.
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