The Qualitative Characteristics Describe the Attributes That Enhance the Usefulness

Multiple Choice

The qualitative characteristics describe the attributes that enhance the usefulness of financial reporting information.The FASB's conceptual framework sets forth the qualitative characteristic of _____ that refers to information that can make a difference in a resource allocation decision by helping users to form predictions about the outcomes of future events and to confirm or correct prior information or expectations.Receiving information in a timely manner (referred to as timeliness) so that it can influence decisions is an aspect of this qualitative characteristic

A) relevance
B) reliability
C) comparability
D) materiality
E) understandability