Two fundamental qualitative characteristics defined by IFRS that are required to provide useful financial information are:...
Two fundamental qualitative characteristics defined by IFRS that are required to provide useful financial information are:
Select one:
a. relevance and faithful representation
b. completeness and neutrality
c. materiality and completeness
d. completeness and full disclosure
Homework Answers
The two fundamental Qualitative characteristics are :
Relevance
Faithful Representation
Relevant information is such information that would help the decision maker to actually make decision, any information that is not relevant to the decision at hand is unnecessary information.
Faithful representation means that the information should be free of errors and be complete.
Thus the answer is A)
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