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Select from the following list the qualitative characteristic of useful information that best describes each of the following items: Predictive value, Confirmatory value, materiality, completeness,
Select from the following list the qualitative characteristic of useful information that best describes each of the following items:
Predictive value, Confirmatory value, materiality, completeness, Neutrality , Freedom from error, Verifiability, Comparability
- In order to keep the financial statements simple, Carlaw Consulting shows three items on its statement of income: Revenue, Expenses and Net income.
- The financial statements of Belbach Industries are audited on an annual basis by public accountants.
- Rydell Corporation is contemplating an investment in Fryan Ltd. Rydell has requested a copy of the company's year-end financial statements to assist them in their investment decision.
- Chemical Reaction Inc. operates in both the US and Canada and restates its US financial statements according to Canadian GAAP for its Canadian investors.
- The Controller for Location Inc. emphasizes that factual and unbiased information prevails in the preparation of the company financial statements.
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