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What are the two fundamental qualities that make accounting information useful for decision making?
What are the two fundamental qualities that make accounting information useful for decision making?
Expert Solution
The two fundamental qualities that make accounting information useful for decision making is Relevance and Timeliness.
Relevance - an information is relevant if it can affect a decision.
Timeliness - If a relevant information is not made known to the management or decision makers on-time, it will be little or no value.
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