Question: List A List B 1 . Predictive value Information is useful in predicting the future.selected answer correct 2 . Relevance Pertinent to the decision at

List A List B
1. Predictive value Information is useful in predicting the future.selected answer correct
2. Relevance Pertinent to the decision at hand.selected answer correct
3. Timeliness Information is available prior to the decision.selected answer correct
4. Distribution to owners Decreases in equity resulting from transfers to owners.selected answer correct
5. Confirmatory value Information confirms expectations.selected answer correct
6. Understandability Users understand the information in the context of the decision being made.selected answer correct
7. Gain Increases in equity from peripheral or incidental transactions of an entity.selected answer correct
8. Faithful representation Information confirms expectations.selected answer incorrect
9. Comprehensive income Concerns the relative size of an item and its effect on decisions.selected answer incorrect
10. Materiality not attempted
11. Comparability Requires consideration of the costs and value of information.selected answer incorrect
12. Neutrality The absence of bias.selected answer correct
13. Recognition Requires consideration of the costs and value of information.selected answer incorrect
14. Consistency Applying the same accounting practices over time.selected answer correct
15. Cost effectiveness not attempted
16. Verifiability

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