(a) Illustrate the qualitative characteristics of useful financial information. Describe the factors which contribute to the achievement...

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(a) Illustrate the qualitative characteristics of useful financial information. Describe the factors which contribute to the achievement of each characteristic. 

(b) Relevance is one of the key qualities of the information in financial statements. What does relevance mean? 

(c) What is the difference between consistency of accounting information and comparability of accounting information?

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