(Examining relevance and reliability, LO 3) You are a prospective investor contemplating purchasing shares in Whyac Ltd. (Whyac), a publicly traded Canadian corporation. In the course of your research you obtain the following information:

. Whyac’s audited financial statements for the last three years.

. The remainder of Whyac’s annual report, including the president’s letter and management’s discussion and analysis.

. A tip from a broker friend of yours indicating that “some big things are about to happen at Whyac.”

. A research report prepared by an independent financial research company that does in-depth analyses of companies and their prospects.

. A research report prepared by a brokerage firm. The brokerage firm is in the process of finalizing a deal with Whyac that will have the brokerage firm selling Whyac’s new issue of shares to the public.

. An anonymous tip from an Internet investment chat room.

. A newspaper item assessing the future prospects of Whyac’s industry.

. An economic outlook written by the chief economist of one of Canada’s major banks.

Required:

Evaluate the relevance (including predictive value, feedback value, and timeliness)

and reliability (including representational faithfulness, verifiability, and neutrality/

freedom from bias) of each piece of information for the purpose of deciding whether to invest in Whyac.