Question

What Is not a principal qualitative characteristic of accounting information​

Answer 1

Answer:

Qualitative characteristics of accounting information with examplesThe qualitative characteristics that have been found possessing wider acceptance and recognition in accounting literature are as follows:

• Relevance: ...
• Reliability: ...
• Understandability: ...
• Comparability: ...
• Consistency: ...
• Neutrality: ...
• Materiality: ...
• Timeliness:

Answer 2

Materiality Is not a principal qualitative characteristic of accounting information.

• Materiality is not recognised as a primary characteristic of the same sort in recent accounting literature as Judgments of materiality are quantitative in nature.
• In accounting language, materiality assumes the value of the information or data in the decision-making of a fair consumer.
• It also expresses how the inclusion or omission in the financial statements can have repercussions for the assessment of past, current and future events.