lol. Meh, I still <3 acc, maybe not VCE style though. lol
Extracts from AASB (Australian Accounting Standards Board) Framework Page 18
"Reliability - To be useful, information must also be reliable. Information has the
quality of reliability when it is free from material error and bias and
can be depended upon by users to represent faithfully that which it
either purports to represent or could reasonably be expected to
represent."
"Relevance - To be useful, information must be relevant to the decision-making
needs of users. Information has the quality of relevance when it
influences the economic decisions of users by helping them evaluate
past, present or future events or confirming, or correcting, their past
evaluations."
Great definitions, summarise them how you like it. If they mark it wrong I'll hook up AASB to the VCAA so they can get fucking pwned, victorian Cunnilingus and ass-licking authority. (props to enwiabe for making it up :p)