A financial information is useful if it is created and compiled for existing as well as potential investors, lenders and other creditors for making vital investment and credit decisions. The fundamental characteristics of useful information as stated in Financial Accounting Standards Board (FASB) includes relevance and faithful representation which means that the information represented in financial statements should be relevant to the business in predicting future events and making prior changes in business decisions. Also, the financial statements should be complete and faithful representation of the information with utmost accuracy. To choose -If the information that provides feedback about prior expectation is relevant and/or faithfully represented information.
A financial information is useful if it is created and compiled for existing as well as potential investors, lenders and other creditors for making vital investment and credit decisions. The fundamental characteristics of useful information as stated in Financial Accounting Standards Board (FASB) includes relevance and faithful representation which means that the information represented in financial statements should be relevant to the business in predicting future events and making prior changes in business decisions. Also, the financial statements should be complete and faithful representation of the information with utmost accuracy. To choose -If the information that provides feedback about prior expectation is relevant and/or faithfully represented information.
Introduction:A financial information is useful if it is created and compiled for existing as well as potential investors, lenders and other creditors for making vital investment and credit decisions. The fundamental characteristics of useful information as stated in Financial Accounting Standards Board (FASB) includes relevance and faithful representation which means that the information represented in financial statements should be relevant to the business in predicting future events and making prior changes in business decisions. Also, the financial statements should be complete and faithful representation of the information with utmost accuracy.
To choose-If the information that provides feedback about prior expectation is relevant and/or faithfully represented information.
Which measure(s) of materiality consider(s) quantitative considerations? Planning Yes Yes No No A. B. C. D. Evaluation Yes No Yes No
The use of the word “prior” is a key indicator that information is nonrelevant to a current decision?
True / False
Postpurchase dissonance is a function of
a. None of the mentioned
b. The difficulty of choosing among the alternatives
c. The degree of commitment or irrevocability of the decision
d. All of the mentioned
e. The importance of the decision to the consumer