The enhancing qualitative characteristics that increase the usefulness of financial information include all of the following,except for A)verifiability. B)materiality. C)understandability. D)comparability.

Question

Quizplus · Accepted Answer

The enhancing qualitative characteristics that increase the usefulness of financial information are verifiability, timeliness, understandability, comparability, and relevance. Materiality is a constraint on financial reporting, not an enhancing qualitative characteristic. It relates to the importance or significance of an item or event to a company's financial statements.

The Enhancing Qualitative Characteristics That Increase the Usefulness of Financial