The joint efforts of the FASB and the IASB to set forth qualitative characteristics of financial reporting information have led to which of the following tentative enhancing qualitative characteristics?
A)comparability, only
B)verifiability, only
C)understandability, only
D)timeliness, only
E)comparability, verifiability, timeliness, and understandability

Question

Quizplus · Accepted Answer

The joint efforts of FASB and IASB have resulted in the tentative enhancing qualitative characteristics of financial reporting information which include comparability, verifiability, timeliness, and understandability. Therefore, option E is the correct answer.

The Joint Efforts of the FASB and the IASB to Set