E2-4

Qualitative characteristic being employed when companies in the same industry are using the same accounting principles.

Quality of information that confirms users' earlier expectations.

Imperative for providing comparisons of a company from period to period.

Ignores the economic consequences of a standard or rule.

Requires a high degree of consensus among individuals on a given measurement.

Predictive value is an ingredient of this primary quality of information

Four qualitative characteristics that are related to both relevance and faithful representation

An item is not recorded because its effect on income would not change a decision

Neutrality is an ingredient of this primary quality of accounting information.

Two primary qualities that make accounting information useful for decision-making purposes

Issuance of interim reports is and example of what primary ingredient of relevance