The Two Primary Qualities of Accounting Information to Make It

question 68

Multiple Choice

The two primary qualities of accounting information to make it useful for decision making are:

• A) reliability and comparability.
• B) relevance and reliability.
• C) materiality and comparability.
• D) full disclosure and relevance.

---

Definitions:

Financial Needs

The necessary resources required to maintain a basic standard of living, including housing, food, healthcare, and education.

Self-Efficacy

The belief in one's ability to succeed in specific situations or accomplish a task, playing a critical role in how one approaches goals, tasks, and challenges.

Self-Concept

An individual's understanding of themselves, comprising beliefs about personal attributes, behaviors, and how they perceive their identity in various social roles.

Self-Esteem

An individual's overall subjective emotional evaluation of their own worth, encompassing beliefs and emotions about oneself.