(a) Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. select an appropriate qualitative characteristic (b) Quality of information that confirms users’ earlier expectations. select an appropriate qualitative characteristic (c) Imperative for providing comparisons of a company from period to period. select an appropriate qualitative characteristic (d) Ignores the economic consequences of a standard or rule. select an appropriate qualitative characteristic (e) Requires a high degree of consensus among individuals on a given measurement. select an appropriate qualitative characteristic (f) Predictive value is an ingredient of this fundamental quality of information. select an appropriate qualitative characteristic (g) Four qualitative characteristics that are related to both relevance and faithful representation. select an appropriate qualitative characteristic (h) An item is not recorded because its effect on income w

(a) Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. select an appropriate qualitative characteristic

Answer: Comparability

Hint:Comparability is essential for companies/ firms in the same industry utilize almost the same principle of account.

(b) Quality of information that confirms users’ earlier expectations. select an appropriate qualitative characteristic

Answer:confirmatory value

Hint: confirmatory value provides validation about a particular information that user needs

(c) Imperative for providing comparisons of a company from period to period. select an appropriate qualitative characteristic

Answer:comparability (consistency)

(d) Ignores the economic consequences of a standard or rule. select an appropriate qualitative characteristic

Answer:Neutrality

Hints:

(e) Requires a high degree of consensus among individuals on a given measurement. select an appropriate qualitative characteristic

Answer: Verifiability

(f) Predictive value is an ingredient of this fundamental quality of information. select an appropriate qualitative characteristic

Answer: Relevance

(g) Four qualitative characteristics that are related to both relevance and faithful representation. select an appropriate qualitative characteristic (h) An item is not recorded because its effect on income w

Answer: comparability, timeliness, verifiability, understandability