Which of the following is a constraint to the qualitative characteristics of useful accounting information?

Question

Quizplus · Accepted Answer

Materiality is a constraint to the qualitative characteristics of useful accounting information because it requires that only information that is material, or significant enough to impact a user's decisions, be reported. This means that information that is immaterial, or not significant, can be omitted from financial statements to reduce clutter and maintain relevance. Conservatism is a principle of accounting, while relevance and comparability are qualitative characteristics of useful accounting information.

Which of the Following Is a Constraint to the Qualitative