Identify the qualitative characteristic of accounting information is best described in each item.

DO NOT USE relevance and faithful representation.

a. The annual reports of a company are audited by certified public accountants (CPAs).

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b. Two different companies both use the FIFO cost flow assumption.

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c. A company has used straight-line depreciation since it began operations 12 years ago.

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d. A publicly traded company issues its quarterly reports immediately after each quarter ends.

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