For an item cost or revenue to be relevant to a decision it


1. For an item (cost or revenue) to be relevant to a decision, it must:

Be an expected, future item.

Differ among alternatives.

Meet one OR the other of the criteria mentioned in (a) and (b), above.

Meet BOTH of the criteria mentioned in (a) and (b), above.

2. Which of the following is not an enhancing qualitative characteristic

Verifiability

Timeliness

Understandability

Neutrality

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Financial Accounting: For an item cost or revenue to be relevant to a decision it
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