Final answer:
The FASB's conceptual framework includes relevance and full disclosure as qualitative characteristics of accounting information, which are vital for the usefulness of financial statements. Historical cost and ease of access are related concepts but not qualitative characteristics per the framework option 1&4.
Step-by-step explanation:
The Financial Accounting Standards Board (FASB)'s conceptual framework establishes the objectives and concepts that the Board uses in developing standards of financial accounting and reporting. Among its qualitative characteristics of accounting information, relevance and full disclosure are of particular importance to ensure that financial information is useful to users in making decisions about providing resources to the entity.
Relevance means that the information provided in financial statements must be capable of making a difference in a decision by helping users to form predictions about the outcomes of past, present, and future events or confirm or correct prior expectations. Option 1&4
Full disclosure refers to the principle that requires all financial facts that may influence the understanding of the financial statements to be disclosed in financial reports. Although historical cost and ease of access are related to financial information and its presentation, they are not themselves qualitative characteristics according to the FASB's framework.