According to the IASB’s Conceptual Framework, which qualitative characteristics enhance the usefulness of information that is relevant and faithfully represented?
Select ONE answer:
- Comparability, understandability, timeliness, verifiability
- Consistency, prudence, measurability, verifiability
- Consistency, reliability, measurability, timeliness
- Materiality, understandability, measurability, reliability
Show your workings to arrive at your answer, and explain and justify your reasons:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 1
- Correct – This is set out in paragraph QC19 of the lASB’s Conceptual Framework
- Not correct
- Not correct
- Not correct
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