If accounting information is verifiable, representationally faithful, and neutral, it can be considered
A) relevant.
B) timely.
C) comparable.
D) reliable.

Question

Quizplus · Accepted Answer

When accounting information is verifiable, representationally faithful, and neutral, it means that the information accurately reflects the economic transactions it purports to represent, can be substantiated by evidence, and is unbiased. These characteristics are essential for the information to be considered reliable, as they ensure that users can depend on it to make informed decisions.

If Accounting Information Is Verifiable, Representationally Faithful, and Neutral, It