Which accounting concept is involved in the requirement that financial statements contain information that is useful to those who are making decisions?
A) Consistency
B) Comparability
C) Faithful representation
D) Relevance

Question

Quizplus · Accepted Answer

The concept of relevance is involved in the requirement that financial statements contain information that is useful for decision-making. Relevant information helps users of financial statements to make decisions by providing information that is material, timely, and has predictive or confirmatory value.

Which Accounting Concept Is Involved in the Requirement That Financial