Qualitative Characteristics

Question 1

are the characteristics that make
information useful to users.

Answer 1

fundamental qualitative characteristics

Question 2

are the characteristics that enhance the
usefulness of information

Answer 2

enhancing qualitative characteristics

Question 3

if it can affect the
decisions of users.

Answer 3

Information is relevant

Question 4

Relevant information has the following:

Answer 4

-Predictive value
–Confirmatory value

Question 5

the information can be used
in making predictions

Answer 5

Predictive value

Question 6

– the information can be
used in confirming past predictions

Answer 6

Confirmatory value

Question 7

is an ‘entity-specific’ aspect of
relevance.

Answer 7

➢Materiality

Question 8

means the information provides a true,
correct and complete depiction of what it purports to represent.

Answer 8

Faithful representation

Question 9

all information necessary for users to
understand the phenomenon being depicted is provided.

Answer 9

Completeness

Question 10

–– information is selected or presented without
bias.

Answer 10

Neutrality

Question 11

– there are no errors in the description and in
the process by which the information is selected and applied.

Answer 11

Free from error