Using the table

below, match the enhancing characteristics (comparability, verifiability, timeliness, or

understandability) 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 only

reports income every two years.

c)Gladys Groceries reports its investments

at cost while the other companies in the

grocery industry use the fair value option

tomeasure investments.

d)Grant Company engages in complex

business transactions. These events are

properly classified, characterized,

presented