SFAC No$.8,$ Chapter $3,$ identifes the qualitative characteristios tia number of questions related to these qualitative characteristics and

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What is the quality of information that enables users to comfrmi ar COI prior expectations?

Identify the pervasive constraint developed in the contepturl framieuioi

The chairman of the SEC at one time noted. $"$If it becomes auceptedf$$r eviested that accounting principles are determined$-$ or modified inr ol deritoserie purposes other than economic. mcasurerent, we assumieta eraue lisk $3-$at confdenice in the credibility of our financial informationsystem will b$5$: undermined. Which qualitative characteristic of areounting intormatior should ensure that such a situation will not arcur? $($Do not use aithfl: representation.$)$

Muruyama Corp.switches fromn FIt O to average$-$costto FIFO aves a $2-$year period. Which qualitative characteristic of aceounting information is not followed?

Assume that the profession permits the savings and loan industry to defer IOssE$5$ on investments it sells hecause immnediate recognition of the luss may have adverse econumic consequences on$.$ the industry. Which qualitative $($aracteristic of accounting information is not followed? $($Do not userelevance or faithful representation.$)$

Whatare the two fundamental qualities that make artountinginformation