Using the followingtable, match the enhancing characteristics(comparability, verifiability,timeliness, orunderstandability) with the following four scenarios. Also indicate if the enhancing characteristic is either satisfied or violated.

Use of Accounting Information

Enhancing Characteristic

Satisfied or Violated

a.

Auditors from two offices of a large public accounting firm agree on the measurement used for a client's plant assets.

b.

The Later Than Sooner Company reports income only every two years.

c.

Gladys Groceries reports its investments at cost while the other companies in the grocery industry use the fair value option to measure investments.

d.

Grant Company engages in complex business transactions. These events are properly classified, characterized, presented clearly, and fully disclosed.