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21 November, 16:29

Which of the following is not an information characteristic that the GASB identifies as important in government financial reports?

a-Comparability.

b-Timeliness.

c-Reliability.

d-Conciseness.

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Answers (1)
  1. 21 November, 16:44
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    It is Conciseness (D)

    Explanation:

    Comparability : the financial information produced should be capable of being compared over time and with similar information about other entities.

    Timeliness : Financial information should be provided within a time scale suitable for the users decision making purposes.

    Reliability : Information contained in the financial reports should inspired confidence in their users which they can rely on in making relevant decision.

    Conciseness : This is not part of financial information characteristics.
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