good or bad; quality; merits and demerits
Used to evaluate or judge whether something is good or bad, often in formal or written contexts.
応募作品の良否を審査する。
We judge the quality of the submitted works.
この案の良否はまだ判断できない。
We cannot yet judge whether this proposal is good or bad.
良否 judges the quality of something as good or bad, while 可否 judges whether it is acceptable or advisable at all.
Compound of 良 (good) and 否 (bad/no), following classical Chinese word formation.