Select the statement below that does not correctly describe the qualitative characteristic of
Reliability.
A)Reliable information should be compared with the same data for other companies.
B)Reliability means that the information should be dependable.
C)Information that is reasonably free of error and bias is assumed to be reliable.
D)Reliable information is a faithful representation of the company's financial affairs.

Question

Quizplus · Accepted Answer

Comparing information with data from other companies is not a qualitative characteristic of reliability. Instead, reliability refers to the dependability, accuracy, and consistency of information over time.

Select the Statement Below That Does Not Correctly Describe the Qualitative