In the current Conceptual Framework the qualitative characteristic of _________________ has been replaced by faithful representation and verifiability.
A) relevance
B) reliability
C) comparability
D) understandability

Question

Quizplus · Accepted Answer

The qualitative characteristic being referred to is reliability, which has been replaced by two new characteristics - faithful representation and verifiability - in the current Conceptual Framework. Relevance and comparability remain as separate qualitative characteristics, while the former characteristic of understandability has been partially subsumed by the new quality of faithful representation.

In the Current Conceptual Framework the Qualitative Characteristic of _________________