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Which of the following is the fundamental qualitative characteristics of the conceptual framework for financial reporting ? A. Relevance B. Verifiability C. Timeliness D. Understandability

Which of the following is the fundamental qualitative characteristics of the conceptual framework for financial reporting ?

A. Relevance

B. Verifiability

C. Timeliness

D. Understandability

________________ concepts assume that a business will continue in operation indefinitely.

A. Materiality

B. Prudence

C. Going concern

D. Neutrality

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