The constraints on the qualities of accounting information are:
A)Comparability and consistency
B)Understandability and neutrality
C)Cost\benefit and materiality
D)Verifiability and timeliness

Question

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The constraints on the qualities of accounting information are cost/benefit and materiality. While the other qualities (comparability, consistency, understandability, neutrality, verifiability, and timeliness) are important, they are either qualitative characteristics (comparability, consistency, understandability, neutrality) or enhancing qualitative characteristics (verifiability, timeliness). Cost/benefit and materiality are constraints that help ensure that the other qualities are achieved in a manner that is reasonable and practical based on the resources available.

The Constraints on the Qualities of Accounting Information Are