Question

which qualitative characteristics of accounting information is reflected when accounting information is clearly presented.​

Answer 1

Answer

If the accounting information is not clearly presented, then the qualitative characteristics like, comparability, reliability and understandability, are violated. This is because if the accounting information is not clearly presented, then meaningful comparison may not be possible, as the data is not trustworthy, which may lead to faulty conclusions.

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Answer 2

There are four:

Relevance: information makes a difference in decision making

Reliability: information is verifiable, factual, and neutral

Comparability: information can be used to compare different entities

Consistency: information is consistently presented from year to year

These qualities make accounting information understandable and useful for decision and reporting purposes: the goal of financial reporting is to provide useful information to current and potential investors, creditors, and other users of accounting information (e.g., government, standard-setting bodies) to make investment, credit, and other decisions.