The CoBIT Framework Identifies Seven Information Criteria; the FASB Conceptual

question 52

Multiple Choice

The CoBIT framework identifies seven information criteria; the FASB conceptual framework includes four qualitative characteristics of accounting information, as well as several assumptions, principles and constraints. Which of the following statements about them is most true?

• A)The "effectiveness" criterion in CoBIT is related to the primary qualitative characteristic of "relevance" in the FASB conceptual framework.
• B)The "cost effectiveness" constraint in the FASB conceptual framework and the "effectiveness" criterion in CoBIT express the same idea in different ways.
• C)Both A and B are true.
• D)Neither A nor B is true.

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Definitions:

Jurisdictional Ambiguities

Refers to situations where it is unclear which legal authority or set of rules applies, leading to confusion or conflict.

Communication Barriers

Obstacles that prevent effective exchange of ideas or information, including language differences, cultural misunderstandings, and physical distances.

Lines Of Responsibility

The hierarchical structure within organizations that delineates who is responsible for what tasks.

Person-Role Conflict

A situation where an individual's personal values or beliefs are in conflict with the expectations or demands of their professional role.