Reliability is defined as
A) the quality of information that allows it to help users form their expectations about the future.
B) the capability of information to make a difference to the decision maker.
C) the quality of information that allows decision makers to depend on it to represent the conditions or events that it purports to represent.
D) choosing accounting policies without attempting to achieve purposes other than measuring economic impact.
E) a quality of information such that there would be a high extent of consensus among independent measurers of an item.
Correct Answer:
Verified
Q116: Verifiability is defined as
A)the quality of information
Q117: Following is a list of selected
Q118: The dividend-payout ratio is computed as common
Q119: Using LIFO to value inventory one year
Q120: _ is the capability of information to
Q122: Define the following terms:
a.Neutrality
b.Relevance
c.Consistency
d.Verifiability
Q123: With verifiability,knowledgeable and independent observers would agree
Q124: The stable monetary unit concept is based
Q125: Which of the following concepts applies
Q126: One of the components of relevance is
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