The Pair of General Principles of Reporting That Often Result

question 64

Multiple Choice

The pair of general principles of reporting that often result in a trade-off are:

• A)understandability and reliability.
• B)timeliness and reliability.
• C)materiality and relevance.
• D)comparability and materiality.

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Definitions:

Self-awareness

Understanding oneself, including one's emotions, motivations, and wants.

Discount

In psychology, reducing the value or importance of someone else's opinions or achievements, often due to personal bias or judgment; in commerce, a reduction from the full price.

Present

The current moment or period of time.

TOTE Model

A cognitive model that stands for Test-Operate-Test-Exit, describing a process of problem-solving that involves testing a situation, operating to change it, testing the change, and exiting if the outcome is satisfactory.