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:

Public Health Service

A government or statutory body's activities and policies designed to promote the health and well-being of its population.

Legislation

Laws and statutes proposed and enacted by a government's legislative body to regulate, authorize, sanction, grant, declare, or restrict.

Status

A condition or situation at a particular time, often used to describe clinical conditions or social and financial conditions.

Clinical Laboratory Improvement Amendments

Regulations established in 1988 that govern laboratory testing in the U.S., ensuring accuracy, reliability, and timeliness of patient test results.