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 _____ envisions that the nature of the information is relevant and that its effect is large enough to influence a decision. As standard setters make decisions about financial reporting standards, they consider the costs and benefits of those standards.They assess whether the benefits to users of financial reports from a particular financial reporting requirement exceed the costs of providing the information.
A) relevance
B) reliability
C) comparability
D) materiality
E) understandability
Correct Answer:

Verified
Correct Answer:
Verified
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