Qualitative characteristics

Multiple Choice

Relevance

• Fundamental qualitative characteristics

• Enhancing qualitative characteristics

Multiple Choice

Faithful representation

• Fundamental qualitative characteristicsandability

• Enhancing qualitative characteristics

Multiple Choice

Comparability

• Fundamental qualitative characteristicsandability

• Enhancing qualitative characteristics

Multiple Choice

Timeliness

• Fundamental qualitative characteristicsandability

• Enhancing qualitative characteristics

Multiple Choice

Understandability

• Fundamental qualitative characteristicsandability

• Enhancing qualitative characteristics

Multiple Choice

The information is faithfully represented when it is complete, neutral and free from error.

• Understandability

• Comparability

• Faithful representation

• Relevance

Multiple Choice

Information capable of making a difference in the users’ decisions. The financial information is relevant when it has predictive value, confirmatory value, or both.

• Understandability

• Comparability

• Faithful representation

• Relevance

Multiple Choice

Information should be comparable between different entities or time periods.

• Understandability

• Comparability

• Faithful representation

• Relevance

Multiple Choice

Information is available in time to influence the decisions of users

• Understandability

• Comparability

• Faithful representation

• Timeliness

Multiple Choice

Independent and knowledgeable observers are able to verify the information;

• Understandability

• Comparability

• Faithful representation

• Verifiability

Multiple Choice

Information shall be classified, presented clearly and consisely.

• Understandability

• Comparability

• Faithful representation

• Relevance

Multiple Choice

Information shall be classified, presented clearly and consisely.

• Understandability

• Comparability

• Faithful representation

• Relevance

Multiple Choice

Verifiability

• Fundamental qualitative characteristicsandability

• Enhancing qualitative characteristics