Question

Mention any Two qualitative characteristics of Accounting information.

Answer 1

Qualitative Characteristics of Accounting Information are-

- Reliability: Accounting Information must be reliable. Reliability of information means it is verifiable, free from bias and material error.

- Relevance: Accounting Information must be relevant to the user. Information is relevant if it meets the needs of the users in decision-making.

Answer 2

Answer:

Explanation:

Qualitative Characteristics of Accounting Information are-

- Reliability: Accounting Information must be reliable. Reliability of information means it is verifiable, free from bias and material error.

- Relevance: Accounting Information must be relevant to the user. Information is relevant if it meets the needs of the users in decision-making.