​If an accounting information is free from errors, then which qualitative characteristic is reflected ?​

Correct option is C

The correct answer is (c) Reliability

Explanation:
• Reliability means the financial information is accurate, verifiable, and free from errors or bias.
• Reliable information ensures users can trust the financial statements for decision-making.
• It is achieved through honest recording, faithful representation, and adherence to accounting principles.

Information Booster:
• Qualitative characteristics of accounting information: Relevance, Reliability, Comparability, Understandability.
• Reliable data provides true and fair view of financial performance.
• Verification through documents like invoices and vouchers increases reliability.
• Reliability enhances credibility of financial statements.
• It is one of the main qualities under Accounting Standard (AS)-1: Disclosure of Accounting Policies.

Additional Knowledge:
• Option (a) Relevance → Ensures information influences decision-making.
• Option (b) Comparability → Allows comparison across periods or firms.
• Option (d) Understandability → Information should be clear and easy to interpret.