8586

Correct answer = B

"Financial Reporting Standards," Thomas R. Robinson, Hennie van Greuning, Karen O'Connor Rubsam, Elaine Henry, and Michael A. Broihahn
2008 Modular Level I, Vol. 3, p. 110
Study Session 7-31-d
describe the International Financial Reporting Standards (IFRS) framework, including the objective of financial statements, their qualitative characteristics, required reporting elements, and the constraints and assumptions in preparing financial statements
The IFRS framework identifies five factors that contribute to reliability: faithful representation, neutrality, substance over form, prudence, and completeness. Consistency is not one of them.