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 fundamental qualitative characteristics?
A)relevance, only
B)faithful representation, only
C)relevance and faithful representation
D)materiality, only
E)cost, only

Question

Quizplus · Accepted Answer

The joint efforts of FASB and IASB have led to the tentative fundamental qualitative characteristics of financial reporting information, which include relevance and faithful representation.

The Joint Efforts of the FASB and the IASB to Set