18. Which three of the following are not included in the fundamental qualitative ention? About ASD, AS, 2018 Conceptual Framework 1 1-43 characteristics of useful financial reporting information? Etment for ccounting A. Materiality B. Relevance C. Prudence D. Faithful representation E comparability a. A, B and D b. A, C and E C. B, D and E d. C, D and E ends to 19. Some qualitative characteristics of useful financial reporting information are as follows: A. Neutrality B. Materiality C. Free from error D. Completeness ncial According to the Conceptual Framework, which of these characteristics contribute to the faithful representation? a. A, B and C b. A, B and D c. A, C and D d. B, C and D 20. Which of the following items would be a violation of the materiality concept? a. An entity did not present separately a loss arising from the disposal of an asset for P5,000 in its statement of comprehensive income. Profit before tax for the year was P1 million, b. An entity did not disclose a P500,000 illegal bribe made by one of its senior management to a government official in its financial statements. C. An entity expensed the purchase of plastic dust bins that have an expected useful life of two years. d. None of the above statements violates the materiality concept