Answered: What are the 2 Fundamental Qualities of…

What are the 2 Fundamental Qualities of useful accounting information? Answers: Faithful Representation, Accuracy Relevance, Faithful Representation Timeliness, Consistency Relevance, Materiality

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter2: Financial Reporting: Its Conceptual Framework

Section: Chapter Questions

Problem 15GI

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Question 22

What are the 2 Fundamental Qualities of useful accounting information?

Answers:	Faithful Representation, Accuracy
	Relevance, Faithful Representation
	Timeliness, Consistency
	Relevance, Materiality

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24. Show solution in good accounting form
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