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The two fundamental decision-specific qualities that make accounting information useful are: ...

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Accounting

The two fundamental decision-specific qualities that make accounting information useful are:
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Exercise 1 Listed below are several terms and phrases associated with the FASB's conceptual framework and underlying accounting principles. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it. List A List B 1. predictive value a. applying the same accounting practices over time 2. relevance b. record expenses in the period the related revenue is recognized 3. reliability c. concerns the relative size of an item and its effect on decisions 4. comprehensive income d. concerns the recognition of revenue 5. materiality e. along with relevance, a primary decision-specific quality 6. consistency f. the original transaction value upon acquisition 7. verifiability information is useful in predicting the future 8. matching principle h. pertinent to the decision at hand 9. historical principle i. implies consensus among different measurers 10. realization principle j. the change in equity from nonowner transactions cost

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