NO 8% 10:09 i. The qualitative characteristics of useful financial information are part of the conceptual framework in International Accounting Standards (IAS). Identify TWO such characteristics and explain them. [5 marks] 1 ii. Define return on capital employed (ROCE), and explain (without numerical illustration) how ROCE is calculated for this purpose. To whom is this ratio likely to give useful information, and why? ....... K 1. 31