Conceptual FrameworkThe qualitative characteristics of useful financialinformation(this is the complete question)Determine if...Conceptual FrameworkThe qualitative...

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Accounting

Conceptual Framework
The qualitative characteristics of useful financialinformation
(this is the complete question)
Determine if each of the following items contains informationthat is relevant and explain why. If you determine that the item isirrelevant, explain your reasoning.
1.The brand of machinery used in the manufacturing process
2.Net Income
3.The schedule of future payments for operating leases
4.The average salary of employees for each department within thefirm.

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1The brand of machinery used in the manufacturing process This is not a relevant information in decision making What is relevant is theCost Capacity and efficiency etc of the machinery for the See Answer

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In: AccountingConceptual FrameworkThe qualitative characteristics of useful financialinformation(this is the complete question)Determine if...Conceptual FrameworkThe qualitative characteristics of useful financialinformation(this is the complete question)Determine if each of the following items contains informationthat is relevant and explain why. If you determine that the item isirrelevant, explain your reasoning.1.The brand of machinery used in the manufacturing process2.Net Income3.The schedule of future payments for operating leases4.The average salary of employees for each department within thefirm.