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Basic Question 5 of 6
The international financial reporting standards framework identifies four qualitative characteristics that make financial information useful. They are ______.
II. relevance
III. transparency
IV. comprehensiveness
V. consistency
VI. reliability
VII. comparability
I. understandability
II. relevance
III. transparency
IV. comprehensiveness
V. consistency
VI. reliability
VII. comparability
User Contributed Comments 5
User | Comment |
---|---|
3dmouse | The answer is right (P109). Note that on P679 it says updated info 1. relevance 2. Predictive Value 3. Faithful representation ( an emphasis on economic substance over form, reliability , and completeness) 4. neutrality ( absence of bias) 5. verifiability I think the textbook itself is not consistent in this subject. |
gazelle | Transparency,Comprehensiveness and Consistency are the 3 characteristics of a coherent financial reporting framework. |
ybavly | qualitative characteristics are: U R Really Cool - URRC - saw someone post this earlier and it was helpful. |
robbiecow | nice one @ybavly |
leon121 | THANKS YBAVLY |
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Thanks again for your wonderful site ... it definitely made the difference.
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Craig Baugh
Learning Outcome Statements
describe implications for financial analysis of alternative financial reporting systems and the importance of monitoring developments in financial reporting standards
CFA® 2025 Level I Curriculum, Volume 2, Module 1.