Answer
(a) Verifiability,
(b) Comparability,
(c) Comparability,
(d) Timeliness.
Work Step by Step
The qualitative characteristic of accounting information we are going to use are the enhancing qualities including: Comparability, Verifiability, Timeliness, and Understandability.
(a) As the annual reports are audited by certified public accountants, they have the characteristic of Verifiability,
(b) As both use the FIFO cost flow assumption, they have the characteristic of Comparability,
(c) As the corporation has used straight-line depreciation since it began operations, it maintains a consistency of records and has the characteristic of Comparability,
(d) As the company issues its quarterly reports immediately after each quarter ends without any delay, it has the characteristic of Timeliness.
