The two qualitative characteristics that are defined in terms of what influences or makes a difference to a decision maker are
A) faithful representation and materiality.
B) comparability and timeliness.
C) relevance and understandability.
D) materiality and relevance.

Question

Quizplus · Accepted Answer

Materiality and relevance are the two qualitative characteristics that are defined in terms of what influences or makes a difference to a decision maker. Materiality relates to the importance of an item or event while relevance relates to its significance to the decision being made.

The Two Qualitative Characteristics That Are Defined in Terms of What