Answer :
Issuance of interim reports is an example of Timeliness enhancing the quality of both relevance and faithful representation.
A financial statement for a period of less than one financial year is known as an interim report, often known as an interim statement. It can be created on a regular basis—monthly, quarterly, semi-annually, or whenever necessary.
Before the end of the financial reporting cycle, interim reports are used to give a general picture of the company's financial performance. This improves communication between the public and the company and gives investors access to the most recent financial data. The balance sheet, income statement, cash flow statement, and notes to the financial statement are often included in the interim reports' components. Additionally, there are many benefits to creating the interim report.
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