Accounting information should provide a fair and complete representation about a number of a firm's characteristics.Which of the following is not one of those characteristics?
A) risk
B) position
C) performance
D) conservatism

Question

Quizplus · Accepted Answer

Conservatism is not a characteristic that accounting information should provide a fair and complete representation about. Rather, conservatism is an accounting principle that suggests that when there are multiple acceptable options for accounting treatment, the option that is less likely to overstate the firm's financial position or performance should be chosen. The three characteristics that accounting information should provide a fair and complete representation about are risk, position, and performance.

Accounting Information Should Provide a Fair and Complete Representation About