Assets assist in providing users with which two things they want from their search queries?

• A. Depreciation and amortization
• B. Relevant information and predictive value
• C. Historical cost and liquidity
• D. Tax benefits and market value

Answer: (B)

Verified step by step guidance

1. Understand the question: The problem is asking about the primary qualities that assets provide to users in the context of financial information. This is a conceptual question related to the qualitative characteristics of financial information.
2. Recall the key concepts: Assets in financial accounting are resources controlled by an entity that provide future economic benefits. When users analyze assets, they are looking for information that is relevant and has predictive value to make informed decisions.
3. Eliminate incorrect options: Depreciation and amortization are methods of allocating the cost of assets over time, not qualities provided by assets. Historical cost and liquidity are attributes of assets but do not directly address user needs. Tax benefits and market value are specific outcomes or measures, not general qualities.
4. Focus on the correct answer: Relevant information helps users make decisions by providing insights into the financial position and performance of an entity. Predictive value allows users to forecast future outcomes based on the information provided.
5. Conclude: The correct answer is 'Relevant information and predictive value,' as these are the two primary qualities that assets provide to users in their search for meaningful financial information.