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Question
Which qualitative characteristic of accounting information is reflected when accounting information is clearly presented ?
Which qualitative characteristic of accounting information is reflected when accounting information is clearly presented ?
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Solution
The correct option is A Understandability
Understandability is the concept that financial information should be presented so that a reader can easily comprehend it. Adherence to a reasonable level of understandability would prevent an organization from deliberately confusing financial information in order to mislead users of its financial statements.
Understandability is the concept that financial information should be presented so that a reader can easily comprehend it.
Adherence to a reasonable level of understandability would prevent an organization from deliberately confusing financial information in order to mislead users of its financial statements.
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