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Qualitative characteristics (Relevance (Decision making (Present, Future),…
Qualitative characteristics
Relevance
Accurate
Up to date
Decision making
Present
Future
Understandable
Understandability
No boundaries of knowledge
No information left out
Able to review and analyse information
reasonable knowledge of business and economic activities
Timliness
Information changes quickly
Must be readily available
Decision making requires dependant
Verifiability
Must be a true reflection
Directly verified
observation
Checking inventory
Indirectly verified
Checking Data
Checking techniques used