Match each qualitative characteristic of useful accounting information with the related definition by entering the appropriate letter
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Definitions A. Application of the same accounting methods over time B. Agreement between what really happened and the disclosed information C. The information is available prior to the decision. Qualitative Characteristics () Relevance (2) Timeliness (3) Predictive value 4) Confirmatory value D. The accounting information does not favour a particular group. (5) Verifiability (6) Faithful representation F. The information provides input to evaluate previous expectations. E. The information helps reduce uncertainty in the future (7)Neutrality G. The information allows the evaluation of one alternative against another alternative H. The information has a bearing on a specific decision. I The information can be depended upon J. Implies that qualified persons working independently arrive at similar (8) Comparability 9) Consistency conclusions
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Related Book For
Fundamentals Of Financial Accounting
ISBN: 9780073527109
3rd Edition
Authors: Fred Phillips, Robert Libby, Patricia A Libby
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