Relevant accounting information must be reported within the operating cycle or one year, whichever is longer. is information that has been audited. is information that is capable of making a difference in a business decision. has been objectively determined.

The correct answer is "Is information that is capable of making a difference in a business decision".

Explanation:

Relevance is the characteristic of the financial information of having a notorious, potential or real utility, for the purposes pursued by the different recipients of the financial information. Information is, therefore, relevant, when it is likely to influence user decision making. The relevance of an information implies that from its consideration differences can be established in a decision, helping users to make predictions about the consequences of past, present or future events, or to confirm or correct previous expectations.

answer; that person may have a larger tax bill to pay on income taxes;

answer/// real gdp decreases to y3 and the price level falls to p3;