Which two of the following useful characteristics of financial information are identified as key characteristics by the IASB?
A.Accuracy
B. Conciseness
C. Faithful representation
D. Relevance
A)A and C
B)A and B
C)C and D
D)B and D

Question

Which two of the following useful characteristics of financial information are identified as key characteristics by the IASB? 
A.Accuracy
B. Conciseness
C. Faithful representation
D. Relevance
A)A and C
B)A and B
C)C and D
D)B and D

Quizplus · Accepted Answer

Faithful representation and relevance are identified as the two fundamental qualitative characteristics of useful financial information according to the conceptual framework of the International Accounting Standards Board (IASB).

Which Two of the Following Useful Characteristics of Financial Information