Asked by
Ashlie De Nicola
on Nov 14, 2024Verified
Characteristics associated with relevant accounting information are
A) comparability and timeliness.
B) predictive value and confirmatory value.
C) neutral and verifiable.
D) consistency and understandability.
Relevant Accounting Information
Financial data and insights that are pertinent and useful for decision-making processes.
Predictive Value
The capability of financial information to help users in predicting future trends and outcomes.
Confirmatory Value
The aspect of financial information that helps users confirm or correct prior expectations.
- Acquire knowledge on the concepts of relevance and truthful portrayal in financial reporting.
Verified Answer
TW
Learning Objectives
- Acquire knowledge on the concepts of relevance and truthful portrayal in financial reporting.