Accounting information is considered to be relevant

Assignment Help Financial Accounting

Reference no: EM13868258

Accounting information is considered to be relevant when it

A is material and has predictive value

B. Is capable of making a difference in the decision

C. Helps users confirm or correct prior expectations

D. Meet all of the above characteristics

Reference no: EM13868258

Questions Cloud

Auditing canceled ticket sales : Ticket sales are “booked” over the internet and an entry is made debiting a receivable account (from the credit card) and crediting sales. When a ticket is canceled, the only entry made is to a database that maintains specific seat availability. Is ..

Pension accounting rules were developed : The FASB was influenced by feedback from interested parties when pension accounting rules were developed. Please cite one example of this occurrence, and provide your opinion as to the FASB's decision.

Eminent domain action in order to add an new interchange : Samuel has some land near I 10 just a few miles from Slidell, LA where he has an excellent crawfish, shrimp and barbecue restaurant. He has heard that the state might take the property under an eminent domain action in order to add an new interchange..

Example of which enhancing quality of accounting information : Company a issuing records within one month of the end of the year is an example of which enhancing quality of accounting information.

Accounting information is considered to be relevant : Accounting information is considered to be relevant when it

Financial information demonstrates consistency when : Financial information demonstrates consistency when

Identify the key accounting issue or issues involved : Part sharing transaction – A number of large utilities enter into an agreement to create an LLC to purchase a number of transformers to be stored in warehouses for national grid restoration following a potential natural disaster or terrorist attack. ..

Materiality not used in providing financial information : Where is materiality not used in providing financial information?

Prepare journal entries for the transactions : Prepare journal entries for the following transactions. Maxwell invested in $8,500 in cash and $4,000 in equipment for $12,500 of the common stock of Maxwell Repair Inc.

User Account

All Pages