Which one of the following is not a qualitative characteristic of useful accounting information?
A)Relevance
B)Verifiability
C)Going concern
D)Comparability

Question

Quizplus · Accepted Answer

Going concern is not considered a qualitative characteristic of useful accounting information. Going concern refers to the assumption that a company will continue to operate for the foreseeable future, and it is an important concept in financial statement preparation. However, it is not a qualitative characteristic of accounting information, which includes relevance, verifiability, comparability, and understandability.

Which One of the Following Is Not a Qualitative Characteristic