Question: 7) The two primary qualities that make accounting information useful for decision making are a. comparability and consistency. b. materiality and timeliness. c. relevance and
7) The two primary qualities that make accounting information useful for decision making are a. comparability and consistency. b. materiality and timeliness. c. relevance and reliability. d. reliability and comparability. 8) Accounting principles are "generally accepted" only when a. an authoritative accounting rule-making body has established it in an official Pronouncement. b. it has been accepted as appropriate because of its universal application. c. both a and b. d. neither a nor b. a. c. 9) Companies that are listed on a stock exchange are required to submit their financial statements to the AICPA. b. APB FASB. d. SEC. 10) The most significant current source of generally accepted accounting principles is the AICPA. b. SEC. APB. d. FASB. a. c
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