For Accounting Information to Be Useful,it Must Be Both Relevant

question 115

True/False

For accounting information to be useful,it must be both relevant and reliable.

---

Definitions:

Agenda

The list of topics discussed or presented at a meeting, in order of presentation.

Mediation

Intervention in a dispute in order to resolve it.

FICA

refers to the Federal Insurance Contributions Act tax, a United States federal payroll (or employment) tax imposed on both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, the disabled, and children of deceased workers.

Unemployment

A situation where an individual who is actively searching for employment is unable to find work.