The IASB’s Framework for the Preparation and Presentation of Financial Statements gives qualitative characteristics that make financial information reliable. Which of the following are examples of those qualitative characteristics? (1) Accruals (2) Faithful representation (3) Going concern (4) Neutrality Select one: a. 1 and 2 b. 2 and 4 c. 1 and 4 d. 2 and 3

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 7C
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The IASB’s Framework for the Preparation and Presentation of Financial Statements gives qualitative characteristics that make financial information reliable. Which of the following are examples of those qualitative characteristics?

(1) Accruals

(2) Faithful representation

(3) Going concern

(4) Neutrality

Select one:
a. 1 and 2
b. 2 and 4
c. 1 and 4
d. 2 and 3
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