A comprehensive integrative module crafted by Armee Jay L. Cresmundo, Jasper Andrew C. Adjarani, and Kelvin J. Culajara for the accountancy department...
Kelvin Culajara
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55. Which of the following statements is true in relation to the enhancing qualitative characteristic ofunderstandability of financial information?a. Users have a reasonable knowledge of business and economic activities and review the informationwith reasonable diligenceb. Users are expected to have a significant business knowledgec. Financial statements shall exclude complex matters.d. Financial statements shall be free form material error