LIST A 1. Predictive value 2. Relevance 3. Timeliness 4. Distribution to owners 5. Confirmatory value 6. Understandability 7. Gain 8. Faithful representation 9. Comprehensive ne 10. Materiality 11. Comparability 12. Neutrality 13. Recognition 14. Consistency 15. Cost effectiveness 16. Verifiability List B a. Decreases in equity resulting from transfers to owners. b. Requires consideration of the costs and value of information. c. Important for making interfirm comparisons. d. Applying the same accounting practices over time. e. Users understand the information in the context of the decision made. f. Agreement between a measure and the phenomenon it purports represent. g. Information is available prior to the decision. h. Pertinent to the decision at hand. i. Implies consensus among different measurers. j. Information confirms expectations. k. The change in equity from nonowner transactions. 1. The process of admitting information into financial statements. m. The absence of bias. n. Increases in equity from peripheral or incidental transactions of ar entity. o. Information is useful in predicting the future. p. Concerns the relative size of an item and its effect on decisions.

LIST A 1. Predictive value 2. Relevance 3. Timeliness 4. Distribution to owners 5. Confirmatory value 6. Understandability 7. Gain 8. Faithful representation 9. Comprehensive ne 10. Materiality 11. Comparability 12. Neutrality 13. Recognition 14. Consistency 15. Cost effectiveness 16. Verifiability List B a. Decreases in equity resulting from transfers to owners. b. Requires consideration of the costs and value of information. c. Important for making interfirm comparisons. d. Applying the same accounting practices over time. e. Users understand the information in the context of the decision made. f. Agreement between a measure and the phenomenon it purports represent. g. Information is available prior to the decision. h. Pertinent to the decision at hand. i. Implies consensus among different measurers. j. Information confirms expectations. k. The change in equity from nonowner transactions. 1. The process of admitting information into financial statements. m. The absence of bias. n. Increases in equity from peripheral or incidental transactions of ar entity. o. Information is useful in predicting the future. p. Concerns the relative size of an item and its effect on decisions.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter13: Sustainability Reporting

Section: Chapter Questions

Problem 14MC: The fundamental tenets of SASBs Approach are considered _______. A. evidence-based,...

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