Relevance and faithful representation are the two fundamental characteristics that financial information must have in order to be considered useful.

Name: Relevance and faithful representation are the two fundamental characteristics that financial information must have in order to be considered useful.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Relevance and faithful representation are indeed the two fundamental qualitative characteristics that make financial information useful according to the conceptual framework for financial reporting.

Relevance and Faithful Representation Are the Two Fundamental Characteristics That