Question

8- If the users of accounting information are able to compare various aspect of an entity over different time periods, accounting information has the quality of:
1 point
(a) Reliability
(b) Relevance
(c) Comparability
(d) Understandability

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Answer 1

Answer:

The fundamental qualities of accounting information are relevance and reliability, also known as representational faithfulness. If accounting data is to be relevant and useful to decision makers if must be timely

Explanation:

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