Multiple Choice
Which of the following statement(s) is/are true with respect to materiality?
A) It refers to the notion that an item need not be recognised in the financial reports.
B) It is a primary qualitative characteristic.
C) It relates to financial information where its omission or misstatement could influence the economic decisions of users.
D) All of the given answers.
E) Equipment under lease where the risks and rewards flows into the entity and it relates to financial information where its omission or misstatement could influence the economic decisions of users.
Correct Answer:
Answered by ExamLex AI
Correct Answer:
Answered by ExamLex AI
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