To Be Relevant Accounting Information Should Have Which of These

question 29

Multiple Choice

To be relevant accounting information should have which of these characteristics?

• A)The transaction or other event relating to the accounting information should have occurred
• B)It must assist in making predictions about future situations or must help confirm past predictions of users
• C)The financial information should faithfully represent transactions and events without bias or undue error
• D)To be relevant accounting information should have all of the above characteristics

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Definitions:

Viable Way

A method or approach that is feasible and capable of working successfully.

Limited Capital

Restricted financial resources available to a business for investment and operational needs.

International Markets

Refers to the exchange of goods and services across national borders, involving the global marketplace where businesses operate in multiple countries.

Changing Needs

The concept that the requirements or preferences of individuals, markets, or environments evolve over time.