CFA Practice Question

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CFA Practice Question

According to the Framework for the Preparation and Presentation of Financial Statements, which of the following is not a qualitative characteristic of information in financial statements?

A. Relevance
B. Reliability
C. Consistency
D. Understandability
Correct Answer: C

Another one is comparability.

User Contributed Comments 5

User Comment
cong Qualitative characteristics include: understandaibliy, comparability, reliability, relevance. Effective financial reporting: transparency, consistency and comprehesiveness.
jpducros Has someone a clever trick to remember all these items ?
pk84 URRC
ColonelCFA yoU aRe Really Cool
2014 As per text book
two fundamental qualitative characterestics are Relevance and Faithful Representation.
And four others are: comparability, verifiability, Timeliness and Understandability
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