The Enhancing Qualitative Characteristics That Make Financial Information Useful for Decision-Making

question 22

Multiple Choice

The enhancing qualitative characteristics that make financial information useful for decision-making are: $\begin{array}{lllll}&I&II&III&IV\\\text { comparability } & \text { Yes } & \text { Yes } & \text { No } & \text { No } \\\text { relevance } & \text { Yes } & \text { Yes } & \text { No } & \text { Yes } \\\text { understandability } & \text { Yes } & \text { No } & \text { No } & \text { No } \\\text { faithful representation } & \text { Yes } & \text { No } & \text { No } & \text { Yes }\end{array}$

• A) I;
• B) II;
• C) III;
• D) IV.

---

Definitions:

Bailees

Individuals or entities entrusted with temporary possession of someone else's property.

Revokes Acceptance

The legal act of canceling or withdrawing approval of a previously accepted offer or contract, often due to the discovery of a significant flaw or misrepresentation.

Consumers Choice

The decision-making process by which customers select from available products or services based on preferences and factors like price and quality.

Digital Devices

Electronic tools or systems that generate, store, or process data, typically in binary form.