Relevance and reliability are the two primary qualities that make accounting information useful for decision making.
Correct Answer:
Verified
Q9: The economic entity assumption means that economic
Q10: Verifiability and predictive value are two ingredients
Q12: Conservatism in accounting means the accountant should
Q15: The first level of the conceptual framework
Q16: The IASB has issued a conceptual framework
Q17: Comprehensive income includes all changes in equity
Q17: Users of financial statements are assumed to
Q18: The idea of consistency does not mean
Q19: The matching principle states that debits must
Q20: Supplementary information may include details or amounts
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