Question

write any three characteristics of accounting​

Answer 1

Qualitative characteristics of accounting information :

1. Comparability: accounting information must be comparable so that proper analysis can be done.

2. Reliability: reliability of accounting information means verifiable and free from material errors and bias.

3. Relevance: information is relevant if it meets the needs of the user in decision making.

4. Understandability: accounting information must be provided in such a manner that the user can be understand.

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Answer 2

Comparability: Accounting data must be comparable in order to do accurate analysis.

Accounting information: It must be verified and free of substantial errors and bias to be considered reliable.

Relevance: information is relevant if it satisfies the user's decision-making requirements.

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