Which of the following is NOT an enhancing qualitative characteristics of financial statements?

a.comparability

b.consistency

c.timeliness

d.verifiability

Proponents of historical cost ordinarily maintain that in comparison with all other valuation alternatives for general purpose financial reporting, statements prepared using historical costs are more verifiable, whereas opponents argue that fair values are more relevant. In determining the appropriate measurement basis, two of the factors that can affect whether a particular measurement basis provides relevant information are:

a.The characteristics of the asset or liability and how it contributes to future cash flows

b.The level of measurement uncertainty and how indicative the measurement is of the entity's purchasing power

c.The characteristics of the asset or liability and the conservative level of the measurement

d.The credibility of the fair value and the timeliness of the historical cost