The Conceptual Framework for Financial Reporting (the Conceptual Framework) identifies understandability as an important characteristic that enhances the usetuiness of financial intormation. According to the Conceptual Framework, which TWO of the following should be considered by the reporting entity in trying to make financial information as understandable as possible? Preparing financlal information under the assumption that users have a reasonable knowledge of business and economic activities Classifying, characterising and presenting information clearly and concisely Delivering information to users in time to be capable of influencing their decisions Excluding from financial reports all transactions that are complex and difficult to understand