What is the quality which means that the information is capable of making a difference in a decision? Neutrality Relevance Understandability Timeliness According to the FASB Conceptual Framework, which of the following correctly pairs a fundamental characteristic of accounting information with one of its components? Relevance and predictive value. Faithful representation and timeliness. Relevance and verifiability. Faithful representation and confirmatory value. Which of the following is the objective of financial reporting? To provide information: that defines the process of how and at what cost money is allocated among competing interests. about the management and sharehoiders of an enterprise. about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors for decisionmaking. used to identify, measure, analyze and communicate financial information needed by management to plan, control and evaluate a company's operations..

1. What is the quality which means that the information is capable of making a difference in a
decision? Neutrality Relevance Understandability Timeliness According to the FASB
Conceptual Framework, which of the following correctly pairs a fundamental characteristic of
accounting information with one of its components? Relevance and predictive value. Faithful
representation and timeliness. Relevance and verifiability. Faithful representation and
confirmatory value. Which of the following is the objective of financial reporting? To provide
information: that defines the process of how and at what cost money is allocated among
competing interests. about the management and sharehoiders of an enterprise. about the reporting
entity that is useful to present and potential equity investors, lenders, and other creditors for
decisionmaking. used to identify, measure, analyze and communicate financial information
needed by management to plan, control and evaluate a company's operations.