Which of the following enhancing characteristics is achieved if a third party,with sufficient understanding,would arrive at a similar result to that used by the company?
A)comparability
B)understandability
C)timeliness
D)verifiability

Question

Quizplus · Accepted Answer

The enhancing characteristic achieved if a third party, with sufficient understanding, would arrive at a similar result to that used by the company is verifiability. Verifiability refers to the ability to verify the accuracy and reliability of financial information through independent sources. If a third party can arrive at a similar result, then the information is likely to be considered verifiable.

Which of the Following Enhancing Characteristics Is Achieved If a Third