Question

In one to three sentences, describe reliable financial information.

Answer 1

Accounting Reliability. Accounting reliability refers to whether financial information can be verified and used consistently by investors and creditors with the same results. Basically, reliability refers to the trustworthiness of the financial statements.

Answer 2

Reliability requires that the information should be accurate and true and fair, neutral and unbiased, verifiable and using the same method would come up with similar results or numbers. Reliable information includes information from experts in the field , information from recognized and reputable organizations and information that can be verified by other sources.It's important to use information that is both reliable and relevant when making financial decisions.