Question Details

Which of the following ingredients of fundamental qualities is part of faithful representation 



1.	Company A issuing its annual financial reports within one month of the end of the year is an example of which enhancing quality of accounting information?
a.	Neutrality.
b.	Timeliness.
c.	Predictive value.
d.	Representational faithfulness.

	2.	What is the quality of information that enables users to better forecast future operations?
a.	Reliability.
b.	Materiality.
c.	Comparability.
d.	Relevance.

	3.	Which of the following ingredients of fundamental qualities is part of faithful representation ?
a.	Neutrality.
b.	Productive value.
c.	Confirmatory value.
d.	Timeliness.

	4.	Decision makers vary widely in the types of decisions they make, the methods of decision making they employ, the information they already possess or can obtain from other sources, and their ability to process information. Consequently, for information to be useful there must be a linkage between these users and the decisions they make. This link is
a.	relevance.
b.	reliability.
c.	understandability.
d.	materiality.

5.	The two fundamental qualities that make accounting information useful for decision making are
a.	comparability and consistency.
b.	materiality and timeliness.
c.	relevance and faithful representation.
d.	reliability and comparability.




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