The following definition pertains to which desirable attribute of financial statements: Objectivity, called neutrality by some theorists, is closely related to reliability. The information presented in the financial statements should be neutral (free of bias - should not favour one set of stakeholders over another) an attribute difficult to achieve without an independent audit since financial statements, prepared by management, represent a report card on the success of management activities.

1. None of the other alternatives are correct

2. objectivity

3. reliability

4. timeliness

5. relevance