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The chairman of the SEC at one time noted , if it becomes accepted or expected that accounting principles are determined or modified in
The chairman of the SEC at one time noted , " if it becomes accepted or expected that accounting principles are determined or modified in order to secure purposes other than economic measurement, we assume a grave risk that confidence in the credibility of our financial information system willl be undermined. Which qualitiative characteristic of accounting information should ensure that such a situation will not occur? l
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