The CoBIT Framework Identifies Seven Information Criteria; the FASB Conceptual

question 22

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 "confidentiality" criterion in CoBIT contradicts the "full disclosure" principle in the FASB conceptual framework.
• B)The "reliability of information" criterion in CoBIT is most closely related to one of the secondary qualitative characteristics in the FASB conceptual framework.
• C)Both A and B are true.
• D)Neither A nor B is true.

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Definitions:

Individuate

The process of developing a distinct, integrated personality or self, often associated with adolescent development and psychological differentiation from others.

System Justification

A theory suggesting that people have a psychological need to defend and justify the status quo even at the expense of personal or group interest.

Social Identity

The part of an individual's self-concept that derives from their membership in a social group, including the values and emotional significance attached to that membership.

Social Comparison

A psychological process where individuals evaluate their own opinions and abilities by comparing themselves to others.