Which of the following is a constraint to the qualitative characteristics of useful accounting information?
A)conservatism
B)materiality
C)relevance
D)comparability

Question

Quizplus · Accepted Answer

Materiality is a constraint to the qualitative characteristics of useful accounting information because it allows for certain items to be considered immaterial and therefore not required to be reported in financial statements. Materiality is a concept that establishes a threshold for determining whether an item is significant enough to be included in the financial statements. Conservatism, relevance, and comparability are all qualitative characteristics of useful accounting information.

Which of the Following Is a Constraint to the Qualitative