What is meant by the term “Quality of Earnings”? Quality of earnings is a concept that judges whether accounting principles and methods selected by management lead to conservative estimates of earnings or inflated earnings.
What is the Quantity Discounts? Quantity discounts are the reductions from list price, as a result of quantity purchases.
Define the term “Quantifiability” The term quantifiability may be defined as a characteristic of the accounting system which admits as inputs only those transactions and events can be represented in numerical (primarily monetary) terms.