The two fundamental qualities that make accounting information useful for decision making are
A) comparability and timeliness.
B) materiality and neutrality.
C) relevance and faithful representation.
D) faithful representation and comparability.

Question

Quizplus · Accepted Answer

Relevance and faithful representation are the two fundamental qualities of accounting information that make it useful for decision making. Relevance means that the information is important and useful for decision making, while faithful representation means that the information accurately reflects the economic substance of the transactions or events it represents.

The Two Fundamental Qualities That Make Accounting Information Useful for Decision