Which of the Following Statements Is NOT Characteristic of the Qualitative

question 63

Multiple Choice

Which of the following statements is NOT characteristic of the qualitative characteristics of useful accounting information?

• A) Comparability is concerned with different companies using the same accounting methods.
• B) Trade-offs are often necessary in evaluating relevant versus reliable information.
• C) All external and internal events must be fully disclosed in the accounting system.
• D) The full disclosure policy should be followed in all situations that would make a difference to financial statement users.

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Definitions:

Guarantees

Promises or assurances offered by a seller regarding the quality or durability of a product or service.

Counter Suggestion

A strategy employed to offer an alternative proposal or idea, typically in response to an objection or request during a sales negotiation.

Payroll Software System

A digital solution designed to manage and automate the payroll process for organizations, ensuring accurate and timely employee payments.

Indirect Suggestion

A method of influence that implies or hints at a recommended action or decision without stating it outright, often used in persuasive communication.