Identifying Qualitative Characteristics Match each of the following qualitative characteristics a through / with the most closely related qualitative characteristic description 1 through 10. a. Predictive value f. Free from error b. Confirmatory value c. Materiality d. Completeness e. Neutrality g. Comparability h. Verifiability i. Timeliness j. Understandability Qualitative Characteristics Descriptions 1. Includes all required information for a financial statement user to understand the economic reality of the company. b. Confirmatory value 2. Has no discrepancies or omissions. 3. Presented in a timely manner so as to influence business decisions. 4. Corrects or confirms past predictions of forecasts. 5. Results from the consistent use of accounting methods across periods and entities. 6. Assist financial statements users in forecasting future trends of a company. 7. Classified and presented clearly and concisely. 8. Results would be similar for independent observers. 9. Data that influences the economic decisions of a financial statement user are reported. 10. Presented without blas. a. Predictive value d. Completeness c. Materiality x x g. Comparability h. Verifiability x f. Free from error * I. Timeliness Understandability e. Neutrality