Question 2 0.75 pts Fill in the blanks with the correct answers. Possible answers: Relevance, Faithful Representation, Predictive Value, Confirmatory Value, Materiality, Completeness, Neutrality, Free From Error, Comparability, Verifiability, Timeliness, Understandability 1. Joe received financial statements that were written in Greek. Joe doesn't speak Greek. The information was not useful because it lacked 2. The financial statements accurately depicted the actual financial status of the company. What quality does this describe? 3. Jack expensed a $1,000 computer instead of capitalizing it per GAAP rules. The auditors let the treatment stand because the dollar amount was inconsequential to the overall financial performance of the company. This describes 4. All relevant information was included in the financial reports. The report included this ingredient of Faithful Representation 5. George used the last 5 years of financial statements for XYZ Co. to formulate an investment plan this coming year. This describes which ingredient of Relevance. 6. George lost all his savings on his investment. He looked at this year's financial statements to see where he went wrong. This describes which ingredient of Relevance. 7. Abby received the financial statements 3 months after the end of the year. The stock price had already climbed last month due to leaked information about the company's financials. Abby's information lacked and that hurt its value.