______________ is present when knowledgeable and independent observers would concur with how a transaction or event is represented in the financial statements.
A)Verifiability.
B)Comparability.
C)Reliability.
D)Conservatism.

Question

Quizplus · Accepted Answer

Verifiability is the quality that ensures knowledgeable and independent observers can agree on how a transaction or event is represented in financial statements, indicating that the information is faithfully represented and can be independently confirmed.

______________ Is Present When Knowledgeable and Independent Observers Would Concur