Provides a wide range of information for internal users

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Reference no: EM132973429

Problem 1: What is the difference between the Conceptual Framework's fundamental qualitative characteristics of relevance and faithful representation? Can you think of any trade-offs between relevance and faithful representation?

Problem 2: Although accounting provides a wide range of information for both internal and external users, for decision-making purpose users need to carefully consider several limitations that the accounting information has. Discuss two of these limitations.

Reference no: EM132973429

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