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Each of the Following Statements Is Justified by a Fundamental

Question 307

Matching

Each of the following statements is justified by a fundamental quality or an enhancing quality of useful information. Match each statement corresponding to the quality involved.

Premises:
A company uses the same accounting principles from year to year.
Information where independent measures, using the same methods, obtain similar results.
Information presented in a clear and concise fashion.
Information that makes a difference in a decision.
Information accurately depicts what really happened.
Responses:
Comparability
Understandability
Verifiable
Consistency
Relevance
Faithful representation

Correct Answer:

Comparability
Understandability
Verifiable
Consistency
Relevance
Faithful representation
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