Which characteristic does not apply to Schedule II substances?

The defining characteristic of Schedule II substances is their recognized potential for both therapeutic use and abuse. Schedule II drugs are classified as having a high potential for abuse which may lead to severe psychological or physical dependence. They are available for medical purposes, albeit with strict regulations surrounding their prescription and use.

In this context, the option stating that Schedule II substances have "no accepted medical value" is incorrect because these substances are indeed recognized for their medical applications, despite their potential for abuse and dependence. Drugs such as oxycodone and morphine fall into this category, indicating that they are prescribed for legitimate medical treatments despite their risks.

Therefore, it is accurate to state that Schedule II substances possess a restricted medical use, high potential for abuse, and can result in severe psychological dependence—all characteristics that align with their classification under controlled substances. This nuanced understanding is crucial for law enforcement and health professionals involved in managing and regulating these substances.