86 match the qualitative characteristics of accounting information with the descript 4303940


86.Match the qualitative characteristics of accounting information with the description. 

1. This qualitative characteristic means that accounting information is capable of making a difference in a decision by the report user.                    Feedback value                  

2. This is the concept that data shown in the financial reports reflect what really happened.                    Reliability                  

3. Often referred to as objectivity; it is the idea that the financial statements are not prepared in a way to favor one group of users (management, owners, creditors, employees, etc.) over other groups.                    Relevance                  

4. This qualitative characteristic means simply that the information should be dependable; such information is verifiable, is a faithful representation of the company's financial affairs, and is reasonably free of error and bias.                    Consistency                  

5. When the financial data is presented in such a manner that it can be meaningfully compared with the same data for other companies, it meets this qualitative characteristic.                    Predictive value                  

6. Information that is presented soon enough after events are reported to be useful in decision making would meet this qualitative characteristic.                    Verifiability                  

7. This qualitative characteristic is indicated when independent measurers obtain similar results.                    Timeliness                  

8. If information is relevant, it will have this qualitative characteristic and enable statement users in making predictions about the meaning and ultimate outcome of events giving rise to the information.                    Representational faithfulness                  

9. Information that helps the statement user confirm fulfillment or no fulfillment of prior expectations or decisions is said to have this qualitative characteristic.                    Neutrality                  

10. If an entity uses the same accounting treatment for similar events and data from period to period, this qualitative characteristic is being met.                    Comparability                  




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