Listed below are several qualitative characteristics. Required: Match the characteristic (or characteristics) that goes with each...

  

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Listed below are several qualitative characteristics. Required: Match the characteristic (or characteristics) that goes with each statement. a. understandability b. usefulness for decision making C. relevance d. reliability e. predictive f. feedback value g. timely h. verifiable i. representational faithfulness j. neutrality k. comparability 1. m. materiality benefits of information should exceed its cost 1. Two constraints included in the hierarchy. 2. For this quality, the information needs to have predictive and feedback value and be timely. 3. These are the qualitative characteristics that are viewed as having the most importance. SFAC No. 2 indicates that to be reliable, the information needs to have these characteristics. 4. 5. Interacts with relevance and reliability to contribute to the usefulness of information. 6. Two primary qualities that make accounting information useful for decision making. 7. For this quality, the information must be verifiable, subject to representational faithfulness, and neutral. 8. SFAC No. 2 indicates that to be relevant, the information needs to have these characteristics. Listed below are several qualitative characteristics. Required: Match the characteristic (or characteristics) that goes with each statement. a. understandability b. usefulness for decision making C. relevance d. reliability e. predictive f. feedback value g. timely h. verifiable i. representational faithfulness j. neutrality k. comparability 1. m. materiality benefits of information should exceed its cost 1. Two constraints included in the hierarchy. 2. For this quality, the information needs to have predictive and feedback value and be timely. 3. These are the qualitative characteristics that are viewed as having the most importance. SFAC No. 2 indicates that to be reliable, the information needs to have these characteristics. 4. 5. Interacts with relevance and reliability to contribute to the usefulness of information. 6. Two primary qualities that make accounting information useful for decision making. 7. For this quality, the information must be verifiable, subject to representational faithfulness, and neutral. 8. SFAC No. 2 indicates that to be relevant, the information needs to have these characteristics.

Answer rating: 100% (QA)

1 Reliability Two constraints are included in the hierarchy both primarily quantitative in character Information can be useful and yet be too costly to justify providing it To be useful and worth prov... View the full answer