The primary qualities that make accounting information useful for decision making are_________.
Relevance and freedom from bias
Reliability and Relevance
Comparability and consistency
None of these
A
Relevance and freedom from bias
B
None of these
C
Reliability and Relevance
D
Comparability and consistency
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Solution
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The primary qualities that make accounting information useful for decision making are reliability and comparability. Reliability means that the statement of accounts/accounting information is reliable for the users of the financial statements.
Comparability means that the accounting information should be presented in such a way that it is comparable and it facilitates inter and intra-firm comparison.
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