Which of the following characteristics of financial data is most important?
A) Timeliness
B) Understandability
C) Comparability
D) Accuracy

Question

Quizplus · Accepted Answer

Accuracy is the most important characteristic of financial data because if the data is not accurate, it can lead to incorrect decisions regardless of its timeliness, understandability, or comparability. Accurate data is the foundation upon which all other characteristics improve the utility of financial information.

Which of the Following Characteristics of Financial Data Is Most