Similar to the constraints in the FASB's qualitative characteristics, the joint IASB/FASB boards have identified two constraints including
A)benefits that justify the costs and consistency
B)benefits that justify the costs and materiality
C)consistency and materiality
D)objectivity and materiality

Question

Quizplus · Accepted Answer

The joint IASB/FASB boards have identified two constraints including benefits that justify the costs and materiality. Consistency is also an important qualitative characteristic, but it is not listed as a constraint. Objectivity is another important qualitative characteristic, but it is not listed as a constraint either.

Similar to the Constraints in the FASB's Qualitative Characteristics, the Joint