Select the Statement Below That Correctly Describes the Qualitative Characteristic

question 92

Multiple Choice

Select the statement below that correctly describes the qualitative characteristic of comparability.

• A)Information is reasonably free of error and bias to be comparable.
• B)Financial data is presented in such a manner that it can be meaningfully compared with the same data for other companies.
• C)Financial results of one period should closely resemble the financial results of a previous period.
• D)The financial reports reflect what really happened during a time period.

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Definitions:

Convergent Learning

A learning style where the learner's ability to solve problems and apply logical reasoning brings them to a single correct solution.

Explicit Learning

The process of acquiring knowledge or skills through conscious effort and awareness, often in a formal educational setting.

Prototype

An especially representative example of a concept.

Basic Concept

Fundamental ideas or principles that serve as the foundation for a subject or theory.