Which of the following characteristics must exist for accounting information to be useful in making informed decisions?

Question

Quizplus · Accepted Answer

To be useful in making informed decisions, accounting information must be relevant and reliable. Relevant information must relate to the decision being made, while reliable information must be accurate and unbiased. While precision can be useful, it is not necessarily a crucial characteristic for accounting information to be useful. Internal information may be helpful in certain cases, but it is not a necessary characteristic for accounting information to be useful for decision-making. Therefore, option D is the correct answer.

Which of the Following Characteristics Must Exist for Accounting Information