Match the following characteristics with the statements about each qualitative characteristic's importance.
-Those willing to spend the time should be provided with comprehensible accounting information.
A)Consistency
B)Materiality
C)Conservatism
D)Comparability
E)Reliability
F)Relevance
G)Understandability

Question

Quizplus · Accepted Answer

Understandability is the qualitative characteristic that emphasizes that financial information should be presented in a manner that is easily understandable to users who have a reasonable knowledge of business and economic activities. In this statement, the importance is given to providing comprehensible accounting information to those who are willing to spend time, which relates to the understandability characteristic.

Match the Following Characteristics with the Statements About Each Qualitative