________ means that a group of reasonably informed financial statement users are able to reach a consensus decision that reported information is a faithful representation of an underlying economic event.
A) Comparability
B) Verifiability
C) Understandability
D) Freedom from error

Question

Quizplus · Accepted Answer

Verifiability ensures that different knowledgeable and independent observers can reach a consensus that a particular depiction is a faithful representation.

________ Means That a Group of Reasonably Informed Financial Statement