Question: Includes all information for a financial statement user to understand the economics of the company.Answer 1 a . Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf.

Includes all information for a financial statement user to understand the economics of the company.Answer 1a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability2. Has no discrepancies or omissions.Answer 2a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability3. Presented in a timely manner so as to influence business decisions.Answer 3a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability4. Corrects or confirms past predictions of forecasts.Answer 4a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability5. Results from the consistent use of accounting methods across periods and entities.Answer 5a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability6. Assist financial statements users in forecasting future trends of a company.Answer 6a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability7. Classified and presented clearly and concisely.Answer 7a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability8. Results would be similar for independent observers.Answer 8a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability9. Data that influences the economic decisions of a financial statement user are reported.Answer 9a. Predictive valueb. Confirmatory valuec. Materialityd. Completenesse. Neutralityf. Free from errorg. Comparabilityh. Verifiabilityi. Timelinessj. Understandability10. Presented without bias.

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