For the FASB, one of the primary desirable characteristics of accounting information is "relevance."

Question

Quizplus · Accepted Answer

Relevance is indeed considered one of the primary desirable characteristics of accounting information according to the Financial Accounting Standards Board (FASB). This means that the information provided should be capable of influencing a user's economic decisions by helping them to evaluate past, present, or future events.

For the FASB, One of the Primary Desirable Characteristics of Accounting