Which Qualitative Characteristic Improves the Usefulness of Financial Reporting Information

question 26

Multiple Choice

Which qualitative characteristic improves the usefulness of financial reporting information by enabling the users to identify similarities in and differences between two sets of economic data?

• A) relevance.
• B) timeliness.
• C) economic substance.
• D) comparability.

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Definitions:

PATRIOT Act

Legislation enacted by the U.S. Congress in 2001 to enhance law enforcement investigatory tools and powers in response to the terrorist attacks of September 11, aiming to improve homeland security.

Roving Wiretaps

Surveillance technique that allows law enforcement agencies to monitor communications of a suspect across multiple devices without specifying the device upfront.

National Security Letters

Requests issued by the U.S. government agencies for information critical for national security investigations, without a prior warrant.

Roe V. Wade

Roe V. Wade is a landmark Supreme Court decision from 1973 that legalized abortion in the United States by ruling that state laws restricting it were unconstitutional.