Under Statement of Financial Accounting Concepts No

question 15

Multiple Choice

Under Statement of Financial Accounting Concepts No.8,which of the following is an ingredient of the primary quality of faithful representation?

• A)Understandability
• B)Verifiability
• C)Predictive value
• D)Materiality

---

Definitions:

Point Manual

A reference guide that assigns numerical values to job elements for the purpose of determining wage rates.

Point System

A method used for evaluating achievements or compliance, where points are assigned based on performance or adherence to rules.

Allocate Points

The process of distributing or assigning a numerical value or points to various categories or items for evaluation or comparison.

Subfactors

Constituent elements or components that contribute to a larger factor or condition, often used in analysis or assessment.