Financial Statements Are a Key Source of Information Useful to External

question 15

Multiple Choice

Financial statements are a key source of information useful to external users.The quality of relevance in financial information contributes to its usefulness.Along with relevance which of the following attributes is a primary element of useful financial information?

• A)Eloquence
• B)Assets
• C)Ethicality
• D)Faithful representation

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Definitions:

Distinctiveness

The quality of being easily distinguishable from others due to unique characteristics or attributes.

Mere Exposure

A psychological phenomenon where people tend to develop a preference for things merely because they are familiar with them.

Mirroring

The behavior in which one person subconsciously imitates the gesture, speech pattern, or attitude of another.

Flattery

The act of giving excessive, often insincere praise, typically to gain favor or advantage.