To be useful, information must have which of the following fundamental qualitativecharacteristics?a. Relevance and faithful representationb. Timeliness and affordabilityc. Expediency and relevanced. Faithful representation and diversity

Q: How to compare and contrast probable and estimable contingencies vs. remote contingencies.

A: Contingencies: Contingencies are the incidences   which may  or may not happen  and it depend  on…

Q: Strategic and tactical asset allocation.  Define and explain the difference between these and the…

A: Strategic asset allocation is defined as making efficient portfolios of assets with a long-term…

Q: Information produced using fair value as the measurement base is considered:   I. More neutral.…

A: Answer:- Fair value method meaning:- When a buyer and a seller voluntarily agree on a price for an…

Q: How can data analysis be used to identify stakeholders?

A: Stakeholder analysis involves the study of identifying, collecting, and analyzing data on different…

Q: How should one establish performance measurements? And how can they be aggregated?

A: Business Sustainability: Business sustainability is increasing the business worth for a long term,…

Q: Explain how the retrospective approach offers consistency and comparability.

A: Retrospective approach is the principle in which previously issued financial statements are recasted…

Q: Which measure(s) of materiality consider(s) quantitative considerations? Planning Yes Yes No No A.…

A: The measure of materiality indicates the evaluation of the benchmark in the form of a standard…

Q: Substantive procedures consist of substantive analytical procedures and test of details. *

A: There are two types of substantive procedures -

Q: Why is the reporting of segment information required? Justify your response. Why is the reporting of…

A: Segment reporting deals with in-detail segment-wise financial reporting in the financial statements…

Q: What are some pros and cons of the CERES CSR reporting framework i.e. the measure tools, reporting…

A: CERES CSR defines the corporate social responsibility of companies and their resultant action…

Q: Outline the important considerations that should inform any given research data analysi

A: Data Analysis is the systematic process which uses statistical and/or logical techniques to outline…

Q: The following are qualitative characteristics of presentation, except O Uniformity O…

A: Uniformity- It is the quality of being homogeneous.  Understandability-The information must be…

Q: What is meant by each of the following potential characteristics of information: relevant, accurate,…

A:

Q: What does the EMH imply for the use of technical and fundamental analysis?

A: The efficient market hypothesis (EMH), as a substitute called the efficient market theory. It is a…

Q: define the following relevance, reliability,comparability, verifiability and understandability

A: There are some qualitative characteristics which accounting information should possess while…

Q: Q3. Auditing involves the following except___   a. Systematic process b. Objectively obtaining…

A: SOLUTION- Auditing is defined as the on-site verification activity, such as inspection or…

Q: Name the assumption relates to the qualitative characteristic of timeliness? Explain it.

A:

Q: Which of the following elements of fi nancial statements is most closely related to measurement of…

A: Financial statements are statements which provides the information about the financial position of…

Q: Which qualitative characteristic is an ingredient of relevance? a. Verifiability b. Timeliness c.…

A: As per general accounting principal, financial statements of an entity should be true and fair. In…