briefly describe the two fundamental qualities of useful accounting information ?​

Answers

Answer 1

Explanation:

Relevance and reliability are the two primary qualities that make accounting information useful for decision making.

Relevance: Relevant information is capable of making changes or differences in decision making by helping in forming predictions about the results of past, present, and upcoming events for correct expectations.

Accuracy: It depends on whether the information, numbers, and descriptions match what happened earlier and what exactly existed.


Related Questions

what is conceptual fraemwork? why is a conceptual fraemwork necessary in financial accounting​

Answers

Answer:

A conceptual framework is an analytical tool with several variations and contexts. It can be applied in different categories of work where an overall picture is needed. It is used to make conceptual distinctions and organize ideas.

If scores on a police officer entrance exam are normally distributed with a mean of 50 x
= 50) and standard deviation of 10 (s = 10), what standardized score (z-score) represents
a person with an exam score of 60 (x = 60)?

Answers

The standardized score or z-score that represents a person with an exam score of 60 will be z= 0.

What is a standardized score?

It should be noted that z score simply means the number of standard deviation by which the value of a raw score is either above or below the mean value.

In this case, the standardized score or z-score that represents a person with an exam score of 60 will be z = 0. This means that it's on the mean.

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what are the basic financial statement as per the IFRS?​

Answers

A statement of financial position, a statement of profit or loss and other comprehensive income, a statement of changes in equity and a statement of cash flows. [tex][/tex]

which type of mental function would be the strongest & most obvious

Answers

Answer:

the functionalist approach to society.

Explanation:

Identify and correct the misconception about fractions in the following situations.if you cannot insert fractions in your explanations,then write the fractions in words,eg.three eighths. Tommy writes the fraction of the shaded part of the shape below as 3/5
[tex] \frac{3}{5} [/tex]

Answers

Answer:

Explanation:

Tommy's misconception in the problem below, is that his expression of the shaded area is the shaded area / non-shaded area, when the fraction for the shaded area should be the shaded area / total area

why is reproduction necessary?​

Answers

Answer:

reproduction is necessary to continue the existence of their races on the earth and balance in the eco system

Use GSS file for this spss problem. Calculate the 95% confindence interval for the following variables, comparing lower, working, middle, and upper classes, (CLASS) in the GSS sample. Use the explore procedure using class as your factor variable

Answers

A confidence interval is the mean of the estimate plus and minus the variation that is in that estimate.

What is a confidence interval?

Your information is incomplete as the data is not given. Therefore, an overview will be given. A confidence interval is the range of values you expect your estimate to fall between when you redo your test, within a certain level of confidence.

A 95% confidence interval means that we are to take 100 different samples and compute a 95% confidence interval for each sample, then 95 of the 100 confidence intervals will contain the true mean value.

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Find the critical value z alpha/2 that corresponds to the given confidence level 84%

Answers

Answer:

c20

Explanation:

7. According to the passage, during Peru's World Cup
qualifying match against Brazil, the narrator's family's
emotions turned from:
A. excitement into sadness.
B. resentment into reconciliation.
C. gloom into anger.
D. pity into embarrassment.

Answers

Answer:

I think it's c

Explanation:

I searched it up and that is the only one that's I feel is right

what is digital wellbeing? ​

Answers

Answer:

Digital well being is a term used to describe the impact of technologies and digital services on people's mental, physical, social and emotional health.

what is mission of the IASB?​

Answers

Answer: According to the Foundation, their mission statement is to "develop IFRS Standards that bring transparency, accountability and efficiency to financial markets around the world. Our work serves the public interest by fostering trust, growth, and long-term financial stability in the global economy."

Explanation: hope it helped! :)

if a difference between two variables is statistically significant, which of the following can be concluded

Answers

Answer:

To determine whether the difference between two means is statistically significant, analysts often compare the confidence intervals for those groups. If those intervals overlap, they conclude that the difference between groups is not statistically significant. If there is no overlap, the difference is significant.

Explanation:

explain the role of IFRS interpretation committee ?​

Answers

Answer:

International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board.

Explanation:

The IFRS Interpretations Committee endeavours to reach a consensus on appropriate accounting treatment and provides authoritative guidance on the issue concerned. The interpretations issued by the committee are referred to as IFRIC Interpretations, taking their name from the previous name given to the committee, the International Financial Reporting Interpretations Committee (IFRIC).

:-befrank

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