3. Financial information that is capable of making a difference in a decision is a. faithfully representative. b. relevant. c. convergent. d. generally accepted.
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- An information that is relevant is one that has ___________ value. a. Historical b. Uncertain c. Predictive d. ComparativeWhich among the following is a form related attribute of good information? a. Relevance b. Presentation c. Accuracy d. BrevityWhich one of the following qualities is most concerned with influencing users' decisions concerning the prediction of future events and the confirmation of past events? O A. Faithful representation OB. Understandability OC. Verifiability OD. Relevance (...)
- 3. The underlying theme of the conceptual framework is: a. decision usefulness. b. understandability. c. reliability. d. comparability.In the blanks provided to the right below, select the letters of the underlying assumption, measurement method, qualitative criteria, or constraint most closely associated with the statements. Some letters may be used more than once and some may not be used at all.A. Separate-entity assumption G. MatchingB. Continuity assumption H. Historical costC. Relevance I. Unit-of-measure assumptionD. Time-period assumption J. Faithful representationE. Cost/benefit K. VerifiabilityF. Revenue recognition L. Full disclosure 1. Any accounting method is acceptable for small items that will not change users’ decisions. 2. Assumes that all financial statement elements can be meaningfully described in dollar terms. 3. Long-term assets that increase in value are not normally written up in the…What kind of information is gathered from a valid and trusted source and can be depended upon to be correct? O a. Information that is reliable. O b. Information that is timely. O c. Information that is accurate. O d. Information that is valid.
- Which measure(s) of materiality consider(s) quantitative considerations? Planning Yes Yes No No A. B. C. D. Evaluation Yes No Yes NoFor information to be relevant, it has to possess: O A. Only predictive value O B. Only confirmative value O C. Both predictive and confirmatory value O D. Either predictive or confirmatory value, or bothNeutrality of information in the fi nancial statements most closely contributes to which qualitative characteristic? C . Faithful representation.
- A principle that is concerned with information that should be significant enough to affect evaluations and decisions is called? * O Consistency O Historical cost O Materiality O Adequate disclosure Expense recognitionDescribe stakeholder orientation at REI.Answer in points: Q. What is CCA? How is it calculated?