The overriding criterion by which accounting information can be judged is that of
A) usefulness for decision making.
B) freedom from bias.
C) timeliness.
D) comparability.

Question

Quizplus · Accepted Answer

The main purpose of accounting information is to assist in decision making, therefore its usefulness for decision making is the most important criterion. Freedom from bias, timeliness, and comparability are also important, but they ultimately impact the usefulness of the information for decision making.

The Overriding Criterion by Which Accounting Information Can Be Judged