The Fundamental Qualitative Characteristics of Accounting Are Relevance and Materiality

question 99

True/False

The fundamental qualitative characteristics of accounting are relevance and materiality.

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Definitions:

Flashbulb Memories

Vivid, detailed memories of significant or shocking events that feel as if they were imprinted onto the brain like a photograph.

Elaborative Rehearsals

A memorization method that involves thinking about the meaning of the term to be remembered, rather than merely repeating the word itself.

Eidetic Images

Unusually vivid and detailed mental images that can be recalled with high precision, often referred to as “photographic memory.”

Episodic Memory

The type of memory that deals with personal experiences and specific events, including the contexts, emotions, and other associations with those events.