The two fundamental qualitative characteristics of useful information are:
A) materiality and timeliness.
B) understandability and verifiability.
C) faithful representation and comparability.
D) relevance and faithful representation.

Question

Quizplus · Accepted Answer

The two fundamental qualitative characteristics of useful information are relevance and faithful representation. Relevance means that the information is pertinent to the decision being made, while faithful representation means that the information is accurate, complete, and unbiased. Materiality and timeliness are enhancing qualities, while understandability and verifiability are secondary qualitative characteristics. Comparability is also an enhancing quality, but it is not one of the fundamental qualitative characteristics.

The Two Fundamental Qualitative Characteristics of Useful Information Are