Question

An enhancing qualitative characteristic of accounting information that allows users to better understand similarities and differences in the financial reports across different companies is called:_______

Answer 1

We can actually deduce here that an enhancing qualitative characteristic of accounting information that allows users to better understand similarities and differences in the financial reports across different companies is called: Comparability.

What is accounting?

Accounting is actually known to be the measurement and processing that is carried out on financial and non-financial information of economic entities.

Businesses and corporations are known to carry out accounting activities. It helps them ascertain their financial strength and progress.

The above answer is actually comparability. Comparability in accounting is an enhancing qualitative characteristic of accounting information that allows users to better understand similarities and differences in the financial reports across different companies.

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