Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 1 - Financial Accounting and Accounting Standards - Questions - Page 23: 3

Answer

Qualitative information is needed for users to make informed decisions about capital allocation.

Work Step by Step

Accounting helps create qualitative information through financial reporting, along with providing accurate and timely financial information.
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