Which of the Following Is a Characteristic of Good Information

question 44

Multiple Choice

Which of the following is a characteristic of good information?

• A) It must be freely available.
• B) It must be more than just barely sufficient.
• C) It must be based on incomplete data.
• D) It must be contextually relevant.

---

Definitions:

Amortised

The process of gradually writing off the initial cost of an asset over its useful life.

Internally Generated

Refers to assets or values created within a company through its own processes and activities, rather than acquired externally.

AASB 138

An Australian Accounting Standard Board rule that outlines the accounting requirements for intangible assets not covered by other specific standards.

Finite Useful Lives

refers to the expected period over which an asset is anticipated to be economically beneficial to an entity, after which it is likely to be considered obsolete or worn out.