Which of the following represents
quantitative characteristics?
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The qualitative traits of accounting data are as follows:-
- Reliability-The first qualitative feature of accounting data is reliability. Reliability way the customers ought to be capable of depending upon the data. It is thought that dependable data need to be loose from mistakes and bias and faithfully represent what it is supposed to represent.
- Relevance-The 2nd qualitative feature of accounting data is relevance. It is thought that applicable, data ought to be had in time, ought to assist in prediction and remarks, and ought to have an impact on the selections of customers in a wonderful manner.
- Understandability- Understandability is the 0.33 maximum essential qualitative feature of accounting data. Understandability way decision-makers ought to interpret accounting data withinside the identical experience because it is ready and conveyed to them.
- Comparability-The remaining qualitative feature of accounting data is comparability. It is thought that it isn't always enough that the monetary data is applicable and dependable at a specific time, in a specific condition, or for a specific reporting entity.
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