The two primary qualities that make accounting information useful for decision making are:comparability and consistency.materiality and timeliness.relevance and reliability.reliability and comparability. Information is neutral if it:provides benefits which are at least equal to the costs of its preparation.can be compared with similar information about an enterprise at other points in time.would have no impact on a decision maker.d. is free from bias toward a predetermined result.

Accounting information is important for top management. It provides details of financial statements.

Answered: The two primary qualities that make…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The two primary qualities that make accounting information useful for decision making are:

comparability and consistency.
materiality and timeliness.
relevance and reliability.
reliability and comparability.
Information is neutral if it:
provides benefits which are at least equal to the costs of its preparation.
can be compared with similar information about an enterprise at other points in time.
would have no impact on a decision maker.
d. is free from bias toward a predetermined result.

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