Question

The primary qualities that makes accounting information useful for decision-making are ________________.

• A. Comparability and consistency
• B. Materiality and timeliness
• C. Relevance and reliabilty
• D. Reliability and comparability

Answer 1

Answer: (C)

Relevance and reliabilty

Option C is correct.

Relevance is the concept that the information generated by an accounting system should impact the decision making of someone perusing the information and reliability concept says only those transactions should be recorded which can be verified with objective evidence.

Therefore, these two are the primary qualities which makes accounting information useful for decision making.