Explain the concept of relevance. 0 A. Relevance is a fundamental characteristic

Question

Explain the concept of relevance. 0 A. Relevance is a fundamental characteristic of useful financial information. Relevant information is capable of making a difference in decision making because of its predictive value, confirmatory value and materiality. OB. Relevance is a fundamental characteristic of useful financial information. Relevant information O c. Relevance is secondary to faithful representation. Financial information is relevantifitis 0 D. Relevance is secondary to confirmatory value. Relevant information is capable of making a is capable of making a difference in decision making only by exhibiting materiality. capable of making a difference in decision making by exhibiting confirmatory value. difference in decision making because of its predictive value or materiality.

Explanation / Answer

Relevance is a fundamental characteristic of useful financial information. Relevant information is capable of making a difference in decision making because of its predictive value, confirmatory value and materiality. Option A is correct

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