Question 3 Take me to the text Partially correct Identify the qualitative characteristic of financial information that has been violated in each of the following scenarios. Marked out of 5.00 Scenario Description P Flag Thorn Company has reported several gains for the period, but has not a ) Verifiability question provided any explanation or proof of how they occurred. Due to recent layoffs, Monte Carlo Ltd. was not able to complete and issue b) its 2018 financial statements and accompanying notes. The information Verifiability was instead included with the 2019 financial report in the following year. To value inventory, Toland and Sons uses a different accounting policy ( ) from the rest of the companies in the same industry. There is no Relevance justification for the use of this accounting policy in the notes to the financial statements. Eris Laboratories has used many uncommon medical terms and scientific d) language in the notes to the financial statements. This language was not Understandability explained anywhere else. A bank decided not to grant a loan to Mida Ltd. after a customer filed a e) substantial lawsuit. Mida Ltd. Did not include any mention of the lawsuit in Relevance the financial statements or in the notes to the financial statements. Check