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 pervasive constraints?
A)cost, only
B)materiality, only
C)understandability, only
D)timeliness, only
E)materiality and cost

Question

Quizplus · Accepted Answer

The joint efforts of FASB and IASB have led to the tentative pervasive constraints of materiality and cost as these are the two constraints that are both qualitative characteristics of financial reporting information.

The Joint Efforts of the FASB and the IASB to Set