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Match each of the following items with the correct accounting framework concept. Accounting information has three characteristics: complete (nothing important was omitted), neutral (not biased toward one position or another), and free from material error. when preparing accounting information, it must be unbiased and not favour one set of interested users over another. The cost of preparing financial information should not exceed the value of that information to users for decision making. 1. Relevance 2. Faithful Representation 3. Comparability Users have access to accounting information before it loses its ability to influence decisions. 4. Verifiability 5. Timeliness A shareholder assumes that a company will continue to operate in the future. 1. VUTIUNILE 5. Timeliness A shareholder assumes that a company will continue to operate in the future. 6. Understandability 7. Neutral The inclusion, exclusion, or misstatement of quantitative or qualitative information could influence the decisions of users. 8. Materiality 9. Going Concern Assumption Users with a reasonable knowledge of business can interpret the information presented and comprehend its meaning 10. Cost Constraint Accounting information is useful for a user's decision making purposes. Independent, knowledgeable users can agree that the accounting information is faithfully represented. Users can identify and understand similarities in, and differences among, items

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