According to the FASB,the Usefulness of Accounting Is Judged by Which

question 74

Multiple Choice

According to the FASB,the usefulness of accounting is judged by which of the following two qualitative characteristics of accounting information?

• A)Comparability and neutrality
• B)Understandability and comparability
• C)Verifiability and timeliness
• D)Relevance and faithful representation

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Definitions:

Competencies

A mix of knowledge, skills, behaviors, and attitudes that a person needs to be effective in a wide range of jobs and various types of organizations.

Performance

The act of carrying out a task or the level of efficiency and effectiveness with which it is executed.

Skill-Based Pay

A compensation system that determines pay levels based on the skills or proficiency levels employees achieve.

Training Costs

Expenses associated with developing and delivering training programs to improve employee skills and knowledge.