Relevance and validity are the two main qualities that make accounting information useful for decision making.
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Q126: One of the components of relevance is
Q127: The reason that companies use historical costs
Q128: The assumption that in all ordinary situations
Q129: Which item would most likely be expensed
Q130: The convention that gives financial statement users
Q131: For each example,write the qualitative characteristic(s)or accounting
Q132: What is the concept that differentiates a
Q133: U.S.financial reporting follows the IASB framework for
Q134: Reliability refers to whether the information makes
Q135: Reliability is the assumption that,ordinarily,an entity persists
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