CBSE Class 11-commerce Answered
State the
characteristics of accounting information.
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
Expert Answer
Characteristics of accounting information are as follows:
- Understandability: Information should be presented in a simple method for easy understanding of the users.
- Reliability: Accounting information should be reliable, verifiable and based on facts. It should be free from bias.
- Relevance: Relevant information should be available on time and assist in influencing the user’s decision to form prediction about the outcomes.
- Comparability: Financial statements should contain figures for the current year to compare with the previous year’s figures of business and other firm’s figures.
Answered by | 07 Jun, 2016, 12:32: PM
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 10:32: AM
ANSWERED BY EXPERT