The Four Principal Qualitative Characteristics That Make Information in Financial

question 22

Multiple Choice

The four principal qualitative characteristics that make information in financial statements useful to investors identified within The Framework are:

• A) Relevance, reliability, timeliness and comparability
• B) Timeliness, reliability, relevance and understandability
• C) Comparability, understandability, relevance and reliability
• D) Comparability, understandability, timeliness and reliability

---

Definitions:

Overtime Pay

Additional compensation awarded to employees who work beyond the standard hours prescribed by their employment contract or by labor law.

Test Pilots

Skilled aviators who fly new or modified aircrafts to validate design objectives, ensure safety, and recommend improvements.

Airplane Makers

Companies and manufacturers that specialize in the design and production of aircraft.

Required Skills

The specific abilities, knowledge, and expertise that are necessary for an individual to perform a job effectively.