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October 20, 2021

The textbook provides three key qualitative characteristics of financial information (relevance, reliability, and

Business & Finance /Accounting

The textbook provides three key qualitative characteristics of financial information (relevance, reliability, and consistency). Describe one of these three terms and explain its influence on the financial statements. Include a numerical example to prove your points. Participate in follow-up discussion by reading classmates' posts and providing an example on the significance to the user if the qualitative characteristics are not followed in the preparation of financial statements.

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