Relevance is not a function of:
A) feedback value.
B) verifiability.
C) timeliness.
D) predictive value.

Question

Quizplus · Accepted Answer

Relevance in accounting information means that the information must be related to the decision-making process, helping users predict future outcomes (predictive value) or confirm past evaluations (feedback value), and must be timely. Verifiability, on the other hand, pertains to the ability to ensure that different knowledgeable and independent observers can reach consensus that an event is faithfully represented, which is more about reliability than relevance.

Relevance Is Not a Function Of