Which Statement Best Explains the Qualitative Characteristic of "Completeness

question 2

Multiple Choice

Which statement best explains the qualitative characteristic of "completeness"?

• A)Financial statements should represent the underlying transactions, assets and liabilities.
• B)Omission of financial information that would influence a user's economic decision.
• C)Financial information should not contain errors or bias.
• D)Financial statements should not omit material items or transactions.

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Definitions:

Verbal Communication

The process of conveying messages or information through spoken words between individuals.

Jargon

Specialized terminology or expressions used by a particular profession or group that may be difficult for outsiders to understand.

Directing Conversation

The practice of guiding and controlling the flow of dialogue in a discussion or interaction.

Anger

A strong emotional response to a perceived provocation, frustration, or injustice.