Relevance means that the information can be counted on to represent faithfully the condition of the company,given the rules in use.

Name: Relevance means that the information can be counted on to represent faithfully the condition of the company,given the rules in use.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Relevance refers to the usefulness of information in making decisions, not its ability to faithfully represent a company's condition. Faithful representation is a separate qualitative characteristic of accounting information.

Relevance Means That the Information Can Be Counted on to Represent