44. Accounting information is considered to be relevant when it A. Can be depended on to represent the economic conditions and events that it is intended to represent. B. Is capable of making a difference in a decision. C. In understandable by reasonably informed users of accounting information, D. Is verifiable and neutral. 1 11 III 45. The "Primary users" of financial information include Existing and potential investors Existing and potential lenders and other creditors User group such as employees, customers, government and their agencies, and public Al only B. I and II only c. I and Ill only D. I, II and III 46. The ingredients of faithful representation are Completeness and neutrality C. Completeness, neutrality and free from errors B. Completeness and free from errors D. Completeness, neutrality, free from error and conservatism A 47. Which is not a financial asset? B. Equity investment A. Cash C. Inventory D. Receivables 48. Physical concept of capital required the use of A Historical cost B. Realizable value C. Current cost D. Present value 49. Which of the following does not interact with both relevance and faithful representation to contribute to the usefulness of information? A Neutrality B. Timeliness C. Understandability D. Comparability