The assurance that the accounting information presented to users is complete, without bias or undue error, and neutral is knows as:
A) consistency.
B) verifiability.
C) faithful representation.
D) relevance.

Question

Quizplus · Accepted Answer

Faithful representation refers to the assurance that accounting information is complete, without bias or undue error, and neutral. Consistency refers to the application of accounting principles over time, verifiability refers to the ability of an independent party to check and confirm the accuracy of the information, and relevance refers to the information being capable of making a difference in a decision-making process.

The Assurance That the Accounting Information Presented to Users Is