Match each characteristic to the appropriate practice/concept. A B Comparability Relevance Understandability Reliability Timeliness Verifiability D E F A component of reliability It means that all information that is useful for decision making is presented in the financial statements without misstatements or omission. It means that the information in the statements must be free of material error and bias. The information must also be verifiable. it means that the financial information must be understood by a user with a reasonable knowledge of the business and basic accounting knowledge. it means that the financial statements must be presented in a similar way from year to year so a comparison can be made to past year's performance. A component of relevance