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Intermediate Accounting: Reporting...
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Intermediate Accounting: Reporting...
Under Statement of Financial Accounting Concepts No. 8, which of the following enhances decision-useful information?
- a. timeliness
- b. neutrality
- c. confirmatory value
- d. materiality
Identify the concept that enhances the decision useful information.
Financial reporting:
Financial reporting is the procedure used to communicate the information obtained from financial statements prepared for a company. It is essential to disclose the data to various stakeholders of the company, as various decisions need to be taken by the stakeholders.
Option (a):
The concept of timeliness enhances the decision useful information. Therefore, Option a, is the correct answer...
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