Relevance Is One of the Four Enhancing Qualitative Characteristics

question 124

True/False

Relevance is one of the four enhancing qualitative characteristics.

---

Definitions:

Uncollectible

Uncollectible refers to debts or receivables that are deemed to be impossible to collect, often resulting in a write-off by the business.

Maturity Value

The amount that will be received at the end of a bond or other debt instrument's term.

Face Value

The nominal or dollar value printed on a security or currency, representing its legal value.

Note Receivable

A written promise for amounts to be received by a business, typically including interest.