Answer :
Answer:
The correct answer is C
Explanation:
Accounting information is the one of the most vital or the primary element for the business, as all the information or the data of the business entity.
It is the method or approach for recording and identifying the data and used in generating the useful reports for the users of the business. The users of the business are generally classified into 2 groups, which are external and the internal users.
So, the accounting information need to be relevant as well as provide faithful representation as does not involve any bias in the information.
Answer:
The correct answer is letter "C": relevance and faithful representation.
Explanation:
Relevance is the accounting concept that implies the goal of record the company's transactions and reporting them into the Financial Statements is to provide someone (managers) with good enough output that allows them to make decisions on the management of the firm. Faithful representation implies that the Financial Statements accurately reflect the situation of a business.