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

question 89

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 represent what it is supposed to represent, in the sense that the information should correspond to the phenomenon being reported, and it should be verifiable and free from bias?

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

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Definitions:

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A professional soccer team based in the Los Angeles metropolitan area, known for its successful history in Major League Soccer (MLS).

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