Enhancing Qualitative Characteristics

Question 1

– the information helps users in
identifying similarities and differences between
different sets of information.

Answer 1

Comparability

Question 2

different users could reach consensus as
to what the information purports to represent.

Answer 2

Verifiability

Question 3

– the information is available to users in
time to be able to influence their decisions.

Answer 3

Timeliness

Question 4

users are expected to have:
a. reasonable knowledge of business activities;
and
b. willingness to analyze the information diligently.

Answer 4

Understandability