Match the Following Characteristics with the Statements About Each Qualitative

question 52

Multiple Choice

Match the following characteristics with the statements about each qualitative characteristic's importance.
-Users must be able to compare accounting information of a firm with its prior year information.

• A)Consistency
• B)Materiality
• C)Conservatism
• D)Comparability
• E)Reliability
• F)Relevance
• G)Understandability

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Definitions:

Kaizen

A Japanese business philosophy of continuous improvement of working practices, personal efficiency, etc.

Frame Bending

An approach in organizational change that involves modifying organizational structures and processes to achieve desired outcomes.

Frame Breaking

Involves significantly changing or challenging traditional beliefs, practices, or structures.

Reorientation

The process of changing one's focus, direction, or commitments towards new goals or principles.