Accounting information that does not provide measurement bias in favor of a particular set of companies has the characteristic of:

91. Accounting information that does not provide measurement bias in favor of a particular set of companies has the characteristic of: 

A. Relevance.
B. Consistency.
C. Materiality.
D. Neutrality.

92. If accounting information is considered to have faithful representation, then which of the following is true? 

A. The information represents to users what it claims to represent.
B. The information follows conservatism principles and is also material.
C. The information is considered pertinent to or affects decisions.
D. The information will have predictive value, feedback value, and is timely.

93. For accounting information to be relevant, it must have which of the following characteristics? 

A. Predictive value or confirmatory value.
B. Large in amount and timely.
C. Comparability or consistency.
D. Freedom from material error, neutrality, or completeness.

94. Materiality is based upon which factor(s)? 

A. Timeliness of an item.
B. Amount and nature of an item.
C. Consistency of an item.
D. Relevance of an item.

95. If a company has gone bankrupt, its financial statements likely violate the: 

A. Periodicity assumption.
B. Monetary unit assumption.
C. Going concern assumption.
D. Economic entity assumption.

96. The conceptual framework's qualitative characteristic of relevance includes: 

A. Predictive value.
B. Verifiability.
C. Completeness.
D. Neutrality.

 

97. The conceptual framework's qualitative characteristic of faithful representation includes: 

A. Predictive value.
B. Neutrality.
C. Confirmatory value.
D. Comparability.

98. Constraints on qualitative characteristics of accounting information include: 

A. Freedom from material error.
B. Going concern.
C. Neutrality.
D. Cost effectiveness.

99. Primary qualitative characteristics of accounting information are: 

A. Relevance and comparability.
B. Comparability and consistency.
C. Faithful representation and relevance.
D. Faithful representation and consistency.

100. Enhancing qualitative characteristics of accounting information include: 

A. Relevance and comparability.
B. Comparability and consistency.
C. Faithful representation and relevance.
D. Cost effectiveness and materiality.