18. Which of the following statements about the qualitative characteristics are incorrect? I. Faithful representation is the capacity of information to make a difference in decision by helping users form prediction about outcome of past, present and future events or confirm/correct prior expectations II. The quality of relevance assures readers that the financial information is free from bias and faithfully represents what it purports to show, including adequate disclosure of significant information III. Under the IASB Conceptual Framework, conservatism is not a concept that is recognized as a qualitative characteristic. I and II only c. II and III only I and III only d. 1,11 and III o-m