The Qualitative Characteristics Describe the Attributes That Enhance the Usefulness

question 160

Multiple Choice

The qualitative characteristics describe the attributes that enhance the usefulness of financial reporting information.The FASB's conceptual framework sets forth the qualitative characteristic of _____ that refers to the faithfulness with which accounting information represents what it purports to represent and the extent to which the information is both verifiable by independent measurers and neutral with respect to the interest of a particular user group.

• A)relevance
• B)reliability
• C)comparability
• D)materiality
• E)understandability

---

Definitions:

Ionic Compound

Ions combined through the strength of electrostatic attractions to form a chemical compound, in a process called ionic bonding.

Sodium

A soft, silvery-white, highly reactive metal and an essential element in animal nutrition, symbolized as Na.

Nitrogen

A colorless, odorless, tasteless gas that constitutes about 78% of the Earth's atmosphere; it is a critical element in the makeup of amino acids, proteins, and nucleic acids.

Ionic Compound

A substance made up of positively and negatively charged ions that are combined in a ratio to neutralize the charges.