O-LevelAccountingAccounting principles and policies7707/13 · Oct/Nov 2023 · Q351 Mark

Which characteristic of financial information requires that financial statements be clearly presented and assumes that the users of the financial statements will have a reasonable knowledge of accounting?

Acomparability

Brelevance

Creliability

Dunderstandability

✓ Correct answer

D: understandability

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 3, question 35.

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