EXERCISE $1-1$: Identify the term being defined by each item.

i$.$ A fundamental characteristic of a financial information which enables it to influence the decision of financial statement users

$2.$ Non$-$inclusion of such information could change the decision a financial statement user makes on the basis of the financial information of a spectfic entity

$3.$ A fundamental qualitative characteristic of a financial information which states that the information should be complete, neutral, and free from material mistakes

F$.$ Without partiality in the selection or presentation of financial information

$5.$ Qualitative characteristic that allows users to compare and contrast items presented in the financial information, whether from the same entity at different periods or with different entities in the same period

$6.$ Refers to the application of the same procedures for the same items, either from across periods within a reporting entity or in a single period among different reporting entities

$7.$ Different informed and independent observers could reach the same conclusion, although not necessarily complete agreement, that a particular financial fnformation is faithfully presented

$8.$ Having available information to decision makers just in time to allow them to make their decisions

$9.$ Classifying, characterizing, and presenting information plainly and succinctly

$10.$ Assumes that the entity has neither the intention nor the need to liquidate or reduce materially the scale of its operations

$11.$ A present economic resource controlled by the entity as a result of past events

$12.$ A present obligation of the entity to transfer an economic resource as a result of past events

$13.$ Residual interest in the assets of the entity after deducting all its liabilitiesEXERCISE $1-1$: Identify the term being defined by each item.

i$.$ A fundamental characteristic of a financial information which enables it to influence the decision of financial statement users

$2.$ Non$-$inclusion of such information could change the decision a financial statement user makes on the basis of the financial information of a spectfic entity

$3.$ A fundamental qualitative characteristic of a financial information which states that the information should be complete, neutral, and free from material mistakes

F$.$ Without partiality in the selection or presentation of financial information

$5.$ Qualitative characteristic that allows users to compare and contrast items presented in the financial information, whether from the same entity at different periods or with different entities in the same period

$6.$ Refers to the application of the same procedures for the same items, either from across periods within a reporting entity or in a single period among different reporting entities

$7.$ Different informed and independent observers could reach the same conclusion, although not necessarily complete agreement, that a particular financial fnformation is faithfully presented

$8.$ Having available information to decision makers just in time to allow them to make their decisions

$9.$ Classifying, characterizing, and presenting information plainly and succinctly

$10.$ Assumes that the entity has neither the intention nor the need to liquidate or reduce materially the scale of its operations

$11.$ A present economic resource controlled by the entity as a result of past events

$12.$ A present obligation of the entity to transfer an economic resource as a result of past events

$13.$ Residual interest in the assets of the entity after deducting all its liabilities