To be a faithful representation as described by the International Accounting Standards Board's (IASB's) Conceptual Framework, information must be all of the following except:
A) Complete.
B) Free from error.
C) Confirmatory.
D) Neutral.

Question

Quizplus · Accepted Answer

Confirmatory information is not a requirement for a faithful representation. The other three elements (completeness, freedom from error, and neutrality) are necessary for a faithful representation, as stated in the IASB's Conceptual Framework.

To Be a Faithful Representation as Described by the International