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Question:
Which one of the following is not a qualitative characteristic of financial information according to Conceptual Framework for Financial Statement?
A. Going concern
B. Timeliness
C. Relevance
D. AccrualI got the answer but now i dont the reason why the accruals basis is not a qualitative characteristic for financial statement. For me, accruals mean that every transaction if it happened need to be recorded in response to matching concept.
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