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Zinaida [17]
4 years ago
11

The FASB's conceptual framework's qualitative characteristics of accounting information include:A. Historical cost.B. Realizatio

n.C. Faithful representation.D. Full disclosure.
Business
1 answer:
Aleksandr [31]4 years ago
5 0

Answer:

Faithful representation.

Explanation:

The Financial Accounting Standards Board made the conceptual framework which sets objectives.and characteristics of how financial information is displayed on financial statements. It helps one understand the logic that is behind the generally accepted accounting practices.

Qualitative characteristics include faithful representation which states that financial statements should reflect the actual state of the business. For example if the assets of a company is $300,000 then the actual assets of the company should also be $300,000.

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