Here are some qualitative characteristics of useful accounting information: 1. Predictive value 2. Neutral 3. Verifiable 4. Timely Match each qualitative characteristic to one of the following statements. (a) Accounting information should help provide accurate expectations about future events. (b) Accounting information cannot be selected, prepared, or presented to favor one set of interested users over another. (c) The quality of information that occurs when independent observers, using the same methods, obtain similar results. (d) Accounting information must be available to decision-makers before it loses its capacity to influence their decisions. > > > >
Here are some qualitative characteristics of useful accounting information: 1. Predictive value 2. Neutral 3. Verifiable 4. Timely Match each qualitative characteristic to one of the following statements. (a) Accounting information should help provide accurate expectations about future events. (b) Accounting information cannot be selected, prepared, or presented to favor one set of interested users over another. (c) The quality of information that occurs when independent observers, using the same methods, obtain similar results. (d) Accounting information must be available to decision-makers before it loses its capacity to influence their decisions. > > > >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Brief Exercise 3-14
Here are some qualitative characteristics of useful accounting information:
1. Predictive value
2. Neutral
3. Verifiable
4. Timely
Match each qualitative characteristic to one of the following statements.
(a) Accounting information should help provide accurate expectations about future events.
(b) Accounting information cannot be selected, prepared, or presented to favor one set of interested users over another.
(c) The quality of information that occurs when independent observers, using the same methods, obtain similar results.
(d) Accounting information must be available to decision-makers before it loses its capacity to influence their decisions.
> > >>
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Introduction:
Accounting:
Accounting is an art of recording , classifying , summarizing, interpreting business results.
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