Important Constraints Underlying the Qualitative Characteristics of Accounting Information Are

question 19

Multiple Choice

Important constraints underlying the qualitative characteristics of accounting information are

• A) historical cost and going concern.
• B) materiality,conservatism,and cost-effectiveness.
• C) consistency,comparability,and conservatism.
• D) verifiability,neutrality,and representational faithfulness.

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Definitions:

Biological Process

A process that is vital for the living organism and occurs due to complex interactions among biological systems.

Homeostasis

the process by which living organisms regulate their internal environment to maintain a stable, constant condition, despite changes in the external environment.

Arousal

The physiological and psychological state of being awake, alert, and engaged, often as a response to stimuli.

Activation Theory

A theory suggesting that performance is best under conditions of optimal arousal, rather than too high or too low.