Usefulness Is Based on Four Characteristics: Quality,completeness,timeliness And

question 52

Multiple Choice

Usefulness is based on four characteristics: quality,completeness,timeliness and:

• A) Accuracy
• B) Lots of information
• C) Quick retrieval
• D) Relevance

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Definitions:

Total Assets

The sum of all current and non-current assets owned by a company, as reflected in its balance sheet.

Stockholders' Equity

The portion of a corporation’s assets that remains after deducting debts, which indicates an equity interest.

Internal Users

Internal users are individuals within an organization who use financial information to make decisions, including managers, employees, and owners.

External Users

Individuals or organizations outside a company who use its financial statements for decision-making purposes, such as investors, creditors, and regulatory agencies.