Match each of the components of relevance with its definition. Relevance 1. _________ Confirmatory value 2. _________
Question:
Relevance
1. _________ Confirmatory value
2. _________ Predictive value
3. _________ Materiality
Definitions
a. Information is useful in helping to forecast future outcomes.
b. Information provides feedback on past activities.
c. The nature or amount of an item has the ability to affect decisions.
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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