E2-2B (Usefulness, Objective of Financial Reporting, Qualitative Characteristics) Indicate whether the following statements about the conceptual framework are true or false.

E2-2B (Usefulness, Objective of Financial Reporting, Qualitative Characteristics) Indicate whether the
following statements about the conceptual framework are true or false. If false, provide a brief explanation
supporting your position.
(a) The fundamental qualitative characteristics that make accounting information useful are relevance
and verifiability.
(b) Relevant information has predictive value, confirmatory value, or both.
(c) Conservatism, a prudent reaction to uncertainty, is considered a constraint of financial reporting.
(d) Information that is a faithful representation is characterized as having predictive or confirmatory
value.
(e) Comparability pertains only to the reporting of information in a similar manner for different
companies.
(f) Verifiability is solely an enhancing characteristic for faithful representation.
(g) In preparing financial reports, it is assumed that users of the reports have reasonable knowledge
of business and economic activities.