The FASB's Conceptual Framework's Qualitative Characteristics of Accounting Information Include

question 79

Multiple Choice

The FASB's conceptual framework's qualitative characteristics of accounting information include:

• A)Historical cost.
• B)Realization.
• C)Reliability.
• D)Full disclosure.

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Definitions:

Hedge Fund

An investment fund that employs various strategies to produce high returns, including leverage, short-selling, and derivatives, accessible typically to wealthy investors.

Incentive Bonus

A form of additional compensation paid to an employee as a reward for achieving certain goals or exceptional performance.

Gross Return

The total return on an investment before any deductions for fees or expenses.

Expense Ratio

A measure of what it costs an investment company to operate a mutual fund, expressed as a percentage of the fund's average assets per annum.