When is financial information considered$$ "understandable"?

Question content area bottom

Part $1$

A$.$

Information is understandable when a group of reasonably informed financial statement users are able to reach a consensus decision that reported information is a faithful representation of a$$ company's activities.

B$.$

Information is understandable when it is$$ classified, characterized, and presented clearly. This means that any uninformed reader of financial statements should be able to understand all information presented.

C$.$

Information is understandable when it is$$ classified, characterized, and presented clearly. This does not mean that an uninformed reader of financial statements should be able to understand all information presented.

D$.$

Information is understandable when it is verifiable and reported in a timely manner.