Primary qualitative characteristics of accounting information are:
A)Relevance and comparability.
B)Comparability and consistency.
C)Reliability and relevance.
D)Reliability and consistency.

Question

Quizplus · Accepted Answer

The primary qualitative characteristics of accounting information are reliability and relevance. Reliability refers to the accuracy and completeness of the information, while relevance refers to the usefulness of the information for decision making purposes. While comparability and consistency are important secondary qualitative characteristics, they are not considered primary characteristics.

Primary Qualitative Characteristics of Accounting Information Are