FASB Board Members Make Standard-Setting Decisions Guided by a Conceptual

question 14

Multiple Choice

FASB board members make standard-setting decisions guided by a conceptual framework that addresses the qualitative characteristics of accounting information. Which of the qualitative characteristics of accounting information holds that the information should be pertinent to the decisions made by users of financial statements, in the sense of having the capacity to affect their resource allocation decisions?

• A)Relevance
• B)Reliability
• C)Comparability.
• D)Subjective
• E)all of the above

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Definitions:

Conscientiousness

An attribute showcasing an individual's knack for structural orderliness, dependability, and unwavering commitment to responsibilities.

Antisocial Behaviors

Actions that violate social norms and are harmful to society, often resulting in negative consequences for the individual and those around them.

Neuroticism

An aspect of personality defined by the presence of emotional unpredictability, heightened anxiety, changeable temperaments, irascibility, and despondency.

Neuroticism

A personality trait characterized by a tendency towards anxiety, moodiness, worry, envy, and jealousy.