Qualitative characteristics are the attributes that make information useful. Which statement best reflects this?

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Qualitative characteristics describe what makes accounting information useful for decision-making. They are the attributes that give information its usefulness, guiding what to include and how to present it so users can rely on it to make informed judgments. These characteristics—such as relevance, faithful representation, and the enhancing qualities of comparability, verifiability, timeliness, and understandability—shape whether financial reports truly support decision-making and accountability. The idea that they are not important, or that they serve only as a basis for audits, or are used only for external reporting, misreads their purpose. They apply to both internal and external reporting, ensuring information is useful to a broad set of users.