Question

current attempt in progress given the characteristics of useful accounting information, complete each of the following statements. (a) for information to be ​, it should have predictive and confirmatory value. (b) ​ means that information accurately depicts what really happened. (c) ​ means using the same accounting principles and methods from year to year within a company. etextbook and media assistance used etextbook save for later attempts: 0 of 3 used submit answer

Explanation:

(a) The qualitative characteristic of accounting information related to predictive and confirmatory value is "relevant". Relevant information helps users make predictions (predictive value) and confirm or correct prior expectations (confirmatory value).
(b) The term for information that accurately depicts what really happened is "faithful representation" (specifically the "accuracy" aspect of faithful representation, but the key term here is "faithful representation" or more precisely "accuracy" in the context of faithful representation; however, the main term related to depicting what really happened is "faithful representation" with accuracy being a component. But in basic accounting, the term for information that accurately shows what occurred is "faithful representation" (or sometimes "accuracy" but the standard term here is "faithful representation" - however, more precisely, the characteristic is "faithful representation" and the aspect of depicting what really happened is "accuracy" within that, but the fill - in - the - blank answer here is "Faithful Representation" (or "Accuracy" but the standard term for the concept of information depicting what really happened is "faithful representation" with accuracy as a part. But in the context of this question, the answer is "Faithful Representation" (or more commonly, in some textbooks, "Accuracy" is used, but the correct term for the characteristic where information depicts what really happened is "faithful representation" (specifically the "completeness, neutrality, and accuracy" aspects, but the main term for the idea of depicting reality is "faithful representation").
(c) The concept of using the same accounting principles and methods from year to year within a company is "consistency". Consistency helps in comparing financial information over different periods.

Answer:

(a) relevant
(b) Faithful Representation (or Accuracy, depending on textbook, but Faithful Representation is more accurate in the context of qualitative characteristics)
(c) consistency