For which type of learning outcomes would be the essay test be least useful? A. Understanding of accounting principles B. Thinking skills C. Organization of ideas D. Knowledge of facts E. Application of accounting principles

Which of the following is not a fundamental quality of useful accounting information? Group of answer choices Faithful representation. Relevance. Faithful representation and Relevance. Materiality

What are the two fundamental qualities of accounting information? OA. Faithful representation and relevance OB. Understandability and verifiability OC. Comparability and faithful representation o D. Timeliness and understandability

The exercise of professional judgement does NOT involve Select one: a. aggressive accounting. b. the application of knowledge gained through experience. c. the use of knowledge gained through education. d. the use of ethical decision making..

Value added statement is a statement prepared under: O Financial Accounting O Management Accounting O Human Resource Accounting O Social Accounting

The accompanying chart shows the qualitative characteristics of useful accounting information. Fill the blanks

my accounting - auditing class, the question in the justification of planning materiality: Basis (normalized net income, revenue, total assets, other). What is the basis? what are the different ones and how are they calculated?

Match the qualitative characteristics below with the following statements. 1.    Timeliness 2.    Completeness 3.    Free from error 4.    Understandability 5.    Faithful representation 6.    Relevance 7.    Neutrality 8.    Confirmatory value a.    Quality of information that assures users that information represents the economic phenomena that it purports to represent. b.    Information about an economic phenomenon that corrects past or present expectations based on previous evaluations. c.    The extent to which information is accurate in representing the economic substance of a transaction. d.    Includes all the information that is necessary for a faithful representation of the economic phenomena that it purports to represent. e.    Quality of information that allows users to comprehend its meaning.

6. Which qualitative characteristic is an ingredient of relevance? a. Verifiability b. Timeliness e. Neutrality d. representational faithfulness 7. Which of the following qualitative characteristics may have to be sacrificed in order to achieve timeliness? a. Relevance b. Reliability c. Comparability d. predictive value Which of the following are considered secondary characteristics of accounting information? a. verifiability and feedback value b. predictive value and timeliness c. comparability and consistency d. representational faithfulness and neutrality 8. The four major financial statements of a corporation consist of the a. income statement, balance sheet, statement of cash flows and statement of changes in stockholders' equity b. balance sheet, statement of cash flows, statement of retained eamings, and income 9. statement c. income statement, statement of cash flows, statement of owners' equity, and balance sheet d. statement of cash flows, balance sheet, income statement, and…

Why accounting information elements that may affect by stakeholders.