Question
If an accounting information is free from errors, then
which qualitative characteristic is reflected?Solution
Reliability is a qualitative characteristic of accounting information. If accounting information is free from errors and can be depended upon to represent the economic substance of transactions faithfully, it is considered reliable. Reliability is essential for users of financial statements to make informed decisions based on accurate and trustworthy information.
Statement: L ≥ X ≤ Z > Y ≤ A, Y = B ≥ CÂ
Conclusion: I. C >A                         II. A ≥ C
...Statements:
E ≤ A > J ≥ L; Y > J < D
Conclusions:
I. D > L
II. A > L
Statements: Q ≥ R > U; R ≤ S; U ≥ B
Conclusions: I. B < R II. B ≤ Q
Statements: V > I; W = U < I; V < X = Y ≥ Z
Conclusions:
I. Y > U
II. Z ≤ I
III. W < Y
...In the question, assuming the given statements to be true, find which of the following conclusion(s) among the three conclusions is/are true and then ...
Statements: Â P > Q > R > S > T < U < V < W < X
Conclusion:
I. Â P > T
II. Â U < X
...In this question, the statement is followed by two conclusions. Which of the two conclusion(s) is/are true?
Statement: Z < L < P = V ≥ H = U �...
Statement: B = L > N < M; M ≤ V < G
Conclusions:
I. G > N                           Â
II. B = M ...
What is the suitable sign that should be placed so that O > K is true, and J ≤ M is true in the relation 'J = K ≤ L ( ) M < N = O'?
Statements: M > N > P ; P = Q ; N < R
Conclusions:
I. Q < N
II. P < M
III. M > R
