According to GAAP, verifiability is an ingredient of
A)comparability
B)reliability
C)representational faithfulness
D)relevance

Question

Quizplus · Accepted Answer

Verifiability means there is evidence available to support the information presented. This ingredient is important for reliability, which ensures that the information presented is free from errors or bias and can be trusted by users. Comparability and representational faithfulness do not directly relate to verifiability, and relevance is more focused on the usefulness of the information for decision-making.

According to GAAP, Verifiability Is an Ingredient of