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FOURTEEN Changes made in the 2010 Conceptual Framework for Financial Reporting dealing with qualitative characteristics of useful financial statements lead to two fundamental qualitative characteristics,
FOURTEEN Changes made in the 2010 Conceptual Framework for Financial Reporting dealing with qualitative characteristics of useful financial statements lead to two fundamental qualitative characteristics, namely, relevance and faithfully representation. In addition to the two fundamental qualitative characteristics, there are four enhancing qualitative characteristics that enhance the usefulness of information that is regarded as relevant and faithfully represented. Required: Explain briefly the four enhancing qualitative characteristics which enhance the usefulness of financial information
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