Qualitative Characteristics in Accounting

Qualitative Characteristics in Accounting

University

30 Qs

quiz-placeholder

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Qualitative Characteristics in Accounting

Qualitative Characteristics in Accounting

Assessment

Quiz

Business

University

Medium

Created by

Mohd Faizal Jamaludin

Used 6+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Relevance means financial information can influence the economic decisions of users.

True

False

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Faithful representation requires information to be complete, neutral, and free from material error.

True

False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Financial information must always be perfect (zero errors) to be useful.

True

False

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Comparability helps users identify similarities and differences in financial data.

True

False

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Understandability means information should be so simple that no prior knowledge is needed.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Verifiability ensures different measurers would reach the same conclusion about the information.

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Timeliness means information must be provided only at the end of the fiscal year.

True

False

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