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ACC 210 - Concepts of Fin'l Reporting > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

Confirmatory Value

A

determines whether management is effectively/efficiently using resources to sell products

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2
Q

Predictive Value

A

determines company’s future cash-generating ability

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3
Q

Materiallity

A

whether information is sufficient in amout or nature to affect a decision

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4
Q

Completeness

A

includes all info necessary for faithful representation of business activity

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ACC 210 - Concepts of Fin'l Reporting (11 decks)

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