In accounting, the concept for whether information is produced quickly enough to be used in decision-making is
A) Consistency
B) Representational faithfulness
C) Timeliness
D) Materiality

Question

Quizplus · Accepted Answer

Timeliness refers to the concept of information being produced in a timely manner so that it can be used for decision-making purposes. Choices A, B, and D refer to different accounting concepts, but not specifically to this concept of timeliness.

In Accounting, the Concept for Whether Information Is Produced Quickly