The following are qualitative characteristics of presentation, except O Uniformity O Understandability O Reliability O Materiality Consistency

Q: Explain consistency concept.

A: Consistency: Consistency principle emphasizes that companies should adhere to same accounting…

Q: Discuss the impact of different measurement choices on relevance, faithful representation,…

A: The usefulness of data produced by a measuring method is determined by how it impacts the financial…

Q: The two characteristics of the appropriateness of evidence are a. relevance and reliability. b.…

A: The management of the company is the main responsible for preparing the financial statements which…

Q: Two characteristics contributing to reliability are ‘neutrality’ and ‘prudence’. Explain the meaning…

A: Neutrality and Prudence are two characteristics of reliability of accounting information. Neutrality…

Q: Relevant financial information is: Select one: а. free from bias and error

A: solution concept Relevant financial information                 Relevance as a qualitative…

Q: Discuss the differences between the attest function and assurance services.

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: Two characteristics contributing to reliability are ‘neutrality’ and ‘prudence’. Explain the meaning…

A:

Q: What are the four key assumptions examined in specification analysis in the case of simple…

A: Simple regression:

Q: Which concept states that accounting information should be complete, neutral, and free from material…

A:

Q: An advantage of the high-low method is that it a. is subjective. b. is objective. c. is the most…

A: The company also will prepare the contribution margin income statement to arrive at the contribution…

Q: Is Fair Presentation the same with Faithful representation? with wxplanation.

A: Fair Presentation and Faithful Representation are two qualities that every important financial…

Q: Which of the following is false about Faithful Representation?

A: Answer Faithful representation is the requirement that the financial statements should be accurate…

Q: what is differrance between effectiveness an Efficiency

A:

Q: What is the distinction between comparability and consistency?

A: Comparability means to make comparison between or among the companies according to their status…

Q: All of the following are essential requirement of good report writing except one. O a. Cost…

A: A report is a written document that shows information in an organized way using a specific format…

Q: Which of the following is not a characteristic of a coherent fi nancial reporting framework? B .…

A: Coherent financial reporting framework is a reporting framework  which requires that a reporting…

Q: Define each of the following terms: c. Signaling hypothesis; clientele effect

A: To define the following terms signalling hypothesis and clientele effect as below,

Q: which of the following is not a qualitative characteristic associated with Relevance? a.…

A: Financial statements should be true and fair, for presenting true and fair financial information;…

Q: Neutrality of information in the fi nancial statements most closely contributes to which qualitative…

A: The qualitative characteristic of the financial information refers to that attribute of the…

Q: What are two objectives that enable reports to be considered useful?

A: Report: It can be defined as the document that assists the users and the management in providing…

Q: describe motivations that might cause management to issue fi nancial reports that are nothigh…

A: The reports that are prepared by the management of to represent the financial performance of a…

Q: Which among the following is a form related attribute of good information? a. Relevance b.…

A: The attribute of good information are: Accuracy Completeness Consistency Uniqueness Timeliness

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: 6. The fundamental qualitative characteristics are reliability and faithful representation.

A: Relevance requires that the accounting information is capable of affecting decisions made by its…

Q: the quality of information that makes it complete, neutral, and free from error relavance O…

A: Financial statement means the statement including income statement , balance sheet , cash flow…

Q: Define Correlation as a concept

A: Introduction: Usually for any two variables, the change in one variable allows us to forecast change…

Q: To be useful, information must have which of the following fundamental qualitativecharacteristics?a.…

A: To determine the useful information must have the following fundamental qualitative​characteristics…

Q: Which of the following is not a contributory factor towards faithful representation? A. Freedom…

A: Faithful representation is the qualitative characteristics of financial statements that enhance…

Q: The fundamental qualitative characteristic of faithful representation has the components of;

A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…

Q: Which qualitative characteristic is an ingredient of relevance? O understandability O materiality O…

A: Answer

Q: hich of the following statements are true and which are false?

A: I. Externalities is the one of the reason for market failure not an only reason. They are many…

Q: Case studies are usually descriptive in nature. O True O False

A: True

Q: For each of the following pairs of information characteristics, give an example of a situation in…

A: Financial accounting:- Financial accounting includes recording, collecting, summarizing and…

Q: Difference between fundamental analysis and technical analysis

A: Investors are keen to know about the future prices of stock because the prices keep on changing…

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…

Q: Distinguish between technical analysis and fundamental analysis, highlighting assumptions in each…

A: Fundamental analysis deals with evaluating and analysing the company’s financial statements to know…

Q: statement is true or false, based on the knowledge of the different theories and mo

A: Stock prices are determined by market movements and prices may go up and down depending on supply…

Q: When information about two different entities has been prepared and presented in a similar manner,…

A: Comparability The characteristics comparability of financial statements can be achieved by following…

Q: The underlying theme of the conceptual framework is: a. decision usefulness.  b. understandability.…

A: CONCEPTUAL FRAMEWORK DESCRIBE HOW THE INFORMATION SHOULD BE PRESENTED AND DISCLOSED IN FINANCIAL…

Q: What is summed up by the word consistency ?

A: So, the word "consistency" summed up various phrases and meaningful sentences which are different in…

Q: Compare and contrast the difference between the retrospective analytics approachand the predictive…

A: Retrospective analytics approach is a process of finding the useful data in order to evaluate what…

Q: Identify the appropriate qualitative characteristic(s) being described in the statements below.…

A: A account balance or a transaction is said to be material if misstatement of such account or…

Q: The underlying theme of the conceptual framework is: a. decision usefulness. b. understandability.…

A: The conceptual framework is related to accounting information.