Comparability, understandability, timeliness, and verifiability are enhancing qualitative characteristics that contribute to: Relevance Faithful Representation a. Yes No

b. No No

c. No Yes

d. Yes Yes

d. Yes Yes

Explanation:

Relevance and Faithful Representation are the two fundamental characteristics of financial reports in accounting. They hold that financial reports must be what would influence the decision or be important for financial decision of the information consumers in other words relevant while also being faithful representation such that information here is truly representative, reliable and free of errors. However comparability, understandability, timeliness, and verifiability are enhancing qualitative characteristics that support the fundamental qualitative characteristics in establishing usefulness of financial reports.

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