2. LO 2.2) Match the information terms (e.g., information symmetry, information subjectivity, bias, noise, professional skepticism) to their definitions.
Definition of Information Terms
A quality of the data that implies that indisputable truth does not exist
Any setting where one party in a transaction has more information than the other party
Captures unpredictable differences between the reported values and the "true" values
Represents an attitude that includes a questioning mind that is alert to areas in the financial statements where the reported numbers don't align with other evidence.
Systematic or predictable difference between the reported value and "true" value
Information Terms
