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Provide an example where there is a trade-off between relevance and faithful representation,

Which fundamental characteristic (relevance vs. faithful representation) is more important in your opinion in that example,

Provide the reason for your opinion considering the elements of relevance (predictive value, confirmatory value, materiality) and faithful representation (completeness, neutrality, free from error)

Explain the objective and qualitative characteristics of financial reporting information based on the conceptual framework and the elements of financial statements based on the conceptual framework (CLO 1).