Final answer:
The FASB's conceptual framework's qualitative characteristics of accounting information include relevance, full disclosure, and going concern.
Step-by-step explanation:
The FASB's conceptual framework includes the qualitative characteristics of accounting information. One of these characteristics is relevance. Relevance means that the information provided is important and has an impact on decision-making. For example, when a company reports its financial statements, it includes relevant information such as revenues, expenses, and assets, which helps investors and creditors make informed decisions.
Another qualitative characteristic is full disclosure. Full disclosure means that all relevant information about a company's financial position, performance, and changes in financial position is disclosed in the financial statements. This helps users of the financial statements have a complete understanding of the company's financial situation.
The last qualitative characteristic mentioned in the question is going concern. Going concern refers to the assumption that a company will continue its operations for the foreseeable future. This assumption is important because it allows for the proper valuation of assets and liabilities. For example, if a company is going out of business and its assets will be sold, their valuation would be different compared to valuing the assets under the assumption that the company will continue its operations.