Intermediate Accounting 14th Edition

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

Chapter 2 - Conceptual Framework for Financial Reporting - Exercises - Page 71: E2-2c

Answer

False.

Work Step by Step

The attributes of faithful representation are different from the attributes of relevance. The two attributes included in this statement: predictive and confirmatory values, belong to relevance. Comparatively, faithful representation is characterized by the lack of errors, objectivity and completeness.
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