Q1: The following terms relate to the fundamental qualities of useful information. Match the key letter of the correct term with the descriptive statement below. Confirmatory value Faithful representation Timely Verifiable a. е. f. Neutral Predictive value Relevant b. с. d. g. 1. Providing information that is not biased toward one position or another. 2. Providing information before it loses its capacity to influence decisions. 3. Providing information that is proven to be free from error. 4. Providing information that would make a difference in a business decision. 5. Providing information that accurately depicts what really happened. 6. Providing information that confirms or corrects prior decisions.
Q1: The following terms relate to the fundamental qualities of useful information. Match the key letter of the correct term with the descriptive statement below. Confirmatory value Faithful representation Timely Verifiable a. е. f. Neutral Predictive value Relevant b. с. d. g. 1. Providing information that is not biased toward one position or another. 2. Providing information before it loses its capacity to influence decisions. 3. Providing information that is proven to be free from error. 4. Providing information that would make a difference in a business decision. 5. Providing information that accurately depicts what really happened. 6. Providing information that confirms or corrects prior decisions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Q1:
The following terms relate to the fundamental qualities of useful information. Match the key letter
of the correct term with the descriptive statement below.
Confirmatory value
Neutral
Faithful representation
Timely
Verifiable
a.
e.
f.
g.
b.
с.
Predictive value
d.
Relevant
1. Providing information that is not biased toward one position or another.
2. Providing information before it loses its capacity to influence decisions.
3. Providing information that is proven to be free from error.
4. Providing information that would make a difference in a business decision.
5. Providing information that accurately depicts what really happened.
6. Providing information that confirms or corrects prior decisions.
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