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Match each of the fundamental and enhancing qualitative characteristics of financial information with the following statements. a. Accounting information cannot be selected, prepared, or presented
Match each of the fundamental and enhancing qualitative characteristics of financial information with the following statements. a. Accounting information cannot be selected, prepared, or presented to favor one set of interested users over another. select a characteristic b. Accounting information must be available to decision-makers before it loses its ability to influence their decisions. select a characteristic c. Accounting information is prepared on the assumption that users have a reasonable understanding of accounting and general business and economic conditions. select a characteristic d. Accounting information provides a basis to evaluate a previously made decision. select a characteristic e. Accounting information includes everything that it needs to; nothing important is omitted. This is an important component of faithful representation. select a characteristic f. Accounting information helps users make predictions about the outcome of past, present, and future events. select a characteristic g. Accounting information about one company can be evaluated against the accounting information from another company. select a characteristic h. Accounting information is included if its omission or misstatement could influence the decisions of financial statement users. This is an important component of relevance. select a characteristic i. All the accounting information that is necessary to faithfully represent economic reality
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