In the second level of the conceptual framework for financial reporting, the enhancing qualitative characteristics include reliability and consistency. Relevance is considered a fundamental qualitative characteristic.
So to clarify:
- Relevance is a fundamental quality, meaning it must be present for information to be useful.
- Reliability (often referred to as faithful representation) is an enhancing quality that helps increase the utility of the financial information.
- Consistency is also an enhancing quality, as it allows for the comparison of financial statements over time.
Therefore, in your options, the enhancing qualities would be Reliability and Consistency.