Which of the Following Is Not a Key Point of the Framework

question 27

Multiple Choice

Which of the following is not a key point of the Framework?

• A) Relevance and faithful representation are the primary qualitative characteristics that financial information should possess.
• B) Consistency should not be an end in itself.
• C) The concept of prudence should always take precedence over reliability.
• D) Financial information may lose its relevance if there is undue delay in reporting it.

---

Definitions:

Workers' Compensation Insurance

Insurance that provides financial benefits and medical care to employees who are injured or become ill as a direct result of their job.

Experience Rating

The number of employees a company has laid off in the past and the cost of providing them with unemployment benefits.

Bureau of Labor Statistics

A unit of the United States Department of Labor responsible for collecting and analyzing economic data related to labor market activity, working conditions, and price changes.

Health Care Benefits

Various types of medical care provisions offered to employees as part of their compensation package.