Which of the following is NOT one of the Qualitative Characteristics of Accounting?

The correct answer is that "Turnover" is not one of the Qualitative Characteristics of Accounting. The qualitative characteristics are designed to enhance the usefulness of financial information, specifically in terms of how they meet the needs of users.

Understandability means that financial information should be presented clearly and concisely, so that it can be understood by users who have a reasonable knowledge of business and economic activities.

Faithful Representation refers to the accuracy and completeness of the information provided, ensuring that it truly reflects the economic events it purports to represent.

Relevance indicates that the information must be useful for decision-making, influencing the decisions made by users.

"Turnover" typically relates to business metrics, such as sales or revenue generation, and does not fit into the framework of qualitative characteristics defined by accounting standards. Therefore, it does not contribute to the qualitative aspects of financial reporting that ensure information is valuable and understandable to users.