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The FASB and IASB Describe Four Characteristics That Enhance the Decision

question 20

Essay

The FASB and IASB describe four characteristics that enhance the decision usefulness of information that is relevant and faithfully represented. What are these characteristics and provide a brief explanation of each.
Comparability Information must be able to be compared with similar information


Definitions:

Phenylketonuria (PKU)

A genetic disorder resulting from an inability to metabolize the amino acid phenylalanine, leading to harmful levels in the body if untreated.

Encopresis

A condition characterized by the repeated passing of feces into inappropriate places by a child who is typically over the age of four.

Involuntary Defecating

Refers to the loss of bowel control, resulting in unexpected passing of feces, often related to health conditions or neurological disorders.

Enuresis

A condition characterized by involuntary urination, especially by children at night, also known as bedwetting.

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