Which of the following is an aspect of relevance according to the Conceptual Framework for Financial...........

General Accounting Principles Introduction to Accounting

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Which of the following is an aspect of relevance, according to the Conceptual Framework for Financial Reporting?

Neutrality

Free from error

Completeness

Materiality

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Explanation:

In any financial accounting statements, there are some transactions that are too small to be recognized and such transactions might not have any impact on the analysis of the financial statement by an external observer; removal of such irrelevant information to keep the financial statement crisp and consolidated is called as the concept of materiality.