Which of the following is not a feature of accounting information?
Answer Details
The feature that is not a feature of accounting information is "affordability."
Accounting information provides data and insights that are essential for businesses and individuals to make informed financial decisions. There are several features of accounting information that are important to ensure that the information is reliable and useful.
First, accounting information should be timely, which means that it is available when it is needed. This allows users of the information to make decisions based on current and relevant data.
Second, accounting information should be accurate, which means that it is free from errors and reflects the true financial position of the business or individual.
Third, accounting information should be complete, which means that it includes all relevant information and data that is necessary for making informed financial decisions.
However, affordability is not a feature of accounting information. While the cost of obtaining accounting information can vary depending on the complexity and scope of the information needed, affordability is not a characteristic of the information itself. Instead, the cost of obtaining accounting information is a practical consideration that individuals and businesses must take into account when deciding whether or not to seek out accounting information.