What are the four key qualities of accounting information?
A)Relevance, reliability, comparability and understandability
B)Identification, analysis, reliability and timeliness
C)Planning, control, comparability and analysis
D)Understandability, identification, analysis and relevance

Question

Quizplus · Accepted Answer

The four key qualities of accounting information are relevance (the information must be related to the decision-making process), reliability (the information must be accurate and trustworthy), comparability (the ability to compare financial information over time or between companies) and understandability (the information should be presented in a clear and concise manner). Thus, choice A is the correct answer.

What Are the Four Key Qualities of Accounting Information