Match each of the fundamental and enhancing qualitative characterlstics of financial informstio a. Accounting information...

80.2K

Verified Solution

Question

Accounting

image
Match each of the fundamental and enhancing qualitative characterlstics of financial informstio a. Accounting information cannot be selected, prepared, or presented to favor one set of interested users over another. b. Accounting information must be avallable to decision-makers before it loses its ability to influence their decisions. c. Accounting information is prepared on the assumption that users have a reasonable understanding of accounting and general business and economic conditions. d. Accounting information provides a basis to evaluate a previously made decision. e. Accounting information includes everything that it needs to; nothing important is omitted. This is an Important component of faithful representation. t. Accounting information helps users make predictions about the outcome of past, present, and future events. g. Accounting information about one company can be evaluated against the accounting information from another company. h. Accounting information is included if its omission or misstatement could influence the decisions of financial statement users. This is an important component of relevance. 1. Ali the accounting information that is necessary to falthfully represent economic reality is included. 1. Accounting information has few inaccuracies. k. Accounting information that will make a difference in users' decisions. 1. Accounting information about a company can be confirmed by two or more independent users to be a falthful representation

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students