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

---

Definitions:

Net Requirements Plan

An output of the manufacturing planning process that identifies the quantity and timing of future material or product demands based on current inventory levels and scheduled supply.

MRP II

Manufacturing Resource Planning, an integrated method of operational and financial planning for manufacturing companies, an evolution of Material Requirements Planning (MRP).

MRP

Material Requirements Planning; a system for planning and managing inventory levels, production schedules, and purchasing needs in the manufacturing process.