ACCA FA · Chapter 2 · Question 2 of 10
Which of the following is an ENHANCING qualitative characteristic of useful financial information?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Comparability
Explanation
The four enhancing qualitative characteristics are comparability, verifiability, timeliness and understandability. Faithful representation is a fundamental characteristic, materiality is an entity-specific aspect of relevance, and going concern is the underlying assumption of the Framework.
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