1.

The concept assumes that if several independent accountants will repeat a method or
technique, the same results would basically be obtained by these accountants

2. The quality of financial information that makes the data-users depend on such information

3. The quality of financial information in which such information is available when it is still
relevant

4. The quality of accounting information that allows is to be related to a certain benchmark or

standard

5. The concept that supports the idea of choosing from several acceptable alternatives, that
one which is least favorable to the owner’s claim

ANSWERS

1. VERIFIABILITY
2. RELIABILITY
3. RELEVANCE
4. COMPATABILITY
5. CONSERVATISM/PRUDENCE