What Are the Primary Qualities of Accounting Information That Increase

question 85

Multiple Choice

What are the primary qualities of accounting information that increase the usefulness to decision makers?

• A)relevance and cost-benefit.
• B)reliability and comparability.
• C)reliability and relevance.
• D)materiality and relevance.

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Definitions:

Legal Capacity

The ability of an individual or entity to enter into legally binding contracts and be sued or sue others.

Discharged

The completion, termination, or fulfillment of an obligation, debt, or contract.

Professional Licensing Statutes

Laws and regulations that establish the requirements and standards for obtaining and maintaining a license to practice certain professions.

Public's Health

The science and practice of protecting and improving the health of a community, as by preventive medicine, health education, control of communicable diseases, application of sanitary measures, and monitoring of environmental hazards.