Which of the Following Statement(s)is/are True of the Qualitative Characteristic

question 9

Multiple Choice

Which of the following statement(s) is/are true of the qualitative characteristic 'comparability'?

• A) A financial report must show corresponding results for the preceding period.
• B) A financial report must be presented in a consistent manner, hence, an entity must adopt similar accounting policies from period to period even though a more reliable and relevant alternative exist.
• C) A financial report must contain all material and relevant items.
• D) A financial report must show corresponding results for the preceding period and be presented in a consistent manner, hence, an entity must adopt similar accounting policies from period to period even though a more reliable and relevant alternative exist.

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Definitions:

Most Frequent

The outcome or value that occurs most often within a data set or sample.

Central Tendency

A single number or value that describes the typical or central score among a set of scores.

Frequency Distribution

A mathematical function that shows the number of occurrences of each value of a variable, often represented in a table or graph.

Median

A measure of central tendency; the middle score in a distribution of scores that divides the distribution in half.