Question

What is qualitative characteristics of accounting information?

Answer 1

Qualitative characteristics are attributes that make the accounting information useful to the users.

.Reliability

.Relevance

.Understandability

.Comparability

Answer 2

The qualitative characteristics of accounting information are :-

♥ Reliability - It means the information is verifiable and free from material error .

♥ Understandability - It means the information provided must be presented in a manner that they can be understood .

♥ Comparability - The users must be able to compare the accounting information of the period with that of other periods .

♥ Relevance - It meets the need of the users in decision making .