Question

The decision makers must interpret accounting information in the same sense as it is prepared and conveyed to them which qualitive characteristics of accounting information is highlighted here

Answer 1

Explanation:

Reliability: Accounting information must be reliable. ...

Relevance: The accounting information, besides disclosing statutorily required information, should disclose other information, after judging its relevance to the decision-making need of its users.

Answer 2

Answer:

Qualitative Characteristics of Accounting Information:

i. Reliability:

Reliability means that the accounting information should be such that it can be independently verifiable, information has the quality of reliability only when it is free material error and bias or subjectivity and can be relied upon by the users to represent faithfully.The other subsidiary features that make an information reliable are –

.