Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 2 - Conceptual Framework for Financial Reporting - Review and Practice - Brief Exercises - Page 63: BE2-2

Answer

(a) 5. Faithful representation (b) 8. Confirmatory value (c) 3. Free from error (d) 2. Completeness (e) 4. Understandability

Work Step by Step

All the above qualitative characteristics are very key in ensuring that users are provided with the most accurate and important accounting information.
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