Question

accounting possesses certain quantive features.list them​

Answer 1

Answer:

Explanation:

The qualitative characteristics that have been found possessing wider acceptance and recognition in accounting literature are as follows:

1. Relevance

2. Reliability

3. Understandability

4. Comparability

5. Consistency

6. Neutrality

7. Materiality

8. Timeliness

Answer 2

Explanation:

The qualitative characteristics that have been found possessing wider acceptance and recognition in accounting literature are as follows:

Relevance: information makes a difference in decision making.

Reliability: information is verifiable, factual, and neutral.

Comparability: information can be used to compare different entities.

Consistency: information is consistently presented from year to year.