Which one of the following statements is not a description of the fundamental qualitative characteristic of faithful representation?
A) Information presented must not only represent relevant economic phenomena (transactions and events), but it must also faithfully represent the phenomena that it purports to represent.
B) Information presented should be verifiable.
C) Information presented should be complete, neutral and free from error.
D) Information presented does not have to be perfectly accurate in order to provide a faithful representation.

Question

Quizplus · Accepted Answer

Verifiability is an enhancing qualitative characteristic, not a fundamental characteristic of faithful representation.

Which One of the Following Statements Is Not a Description