Pls do not handwritten for easy reading === === Question:- 1a) The Singapore "Conceptual Framework for Financial Reporting" on qualitative characteristics deals with the attributes that make financial information useful. Explain the following 2 qualitative characteristics: (i) Relevance and (ii) Verifiability 1b)Under FRS 115 Revenue from contracts with customers an entity recognizes revenue over time when it transfers control of a good or service over time and, therefore, satisfies a performance obligation over time. For measuring progress towards complete satisfaction of a performance obligation over time, the entity can choose to use the output or input method. Explain and illustrate with suitable examples of what these methods are.