Question

Information Situation

Characteristic

Oil and gas companies copsistently apply the same industry$-$specific accounting standards to their financial statements, and so there should be a high level of $($fill in the characteristic$)$ within that industry.

A company with information about a probable and material lawsuit must report it in the notes to its financial statements. An attempt to withhold this information indicates bias and not $q,($fill in characteristic$).$

Financial statements include information on cash flows so that financial analysts and investors can evaluate the accuracy of their past predictions.

Financial analysts and investors use past financial statements as a basis to chart performance trends and make predictions about future performance, including profitability and cash flow, for business valuation purposes.

Assistance Used