According to the FASB's Conceptual Framework, Which of the Following

question 6

Short Answer

According to the FASB's conceptual framework, which of the following relates to both relevance and reliability? $\begin{array}{lcc} & \text { Consistency } & \text { Verifiability } \\\hline a. & \text { Yes } & \text { Yes } \\\text { b. } & \text { Yes } & \text { No } \\\text { c. } & \text { No } & \text { Yes } \\\text { d. } & \text { No } & \text { No }\end{array}$

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Definitions:

Commercial Banks

Financial institutions that offer a wide range of services like accepting deposits, providing business loans, and offering basic investment products.

Pension Fund Managers

Pension fund managers are professionals responsible for managing investment strategies for pension funds to ensure there are sufficient assets to pay out retirees' pensions.

Private Equity Funds

Investment companies that raise funds from individuals and institutional investors and use the funds to take large stakes in a wide range of public and private companies.

Venture Capitalists

Business firms or groups of individuals that invest in new and growing firms in exchange for an ownership share.