According to the FASB,the Usefulness of Accounting Is Judged by Which

question 130

Multiple Choice

According to the FASB,the usefulness of accounting is judged by which of the following two prime qualitative characteristics of accounting information?

• A) Timeliness and understandability
• B) Understandability and relevance
• C) Verifiability and faithful representation
• D) Relevance and faithful representation

---

Definitions:

Consumer

An individual or organization that uses economic goods or services.

Criminal

A person who has committed a crime or has been legally convicted of a crime.

Steal

The act of taking something without permission or legal right and without intending to return it.

Consumer

An individual or group who uses goods and services produced within an economy.