Multiple Choice
To determine whether or not information is material,paragraph 9 of AASB 1031 indicates that it is material if its omission,misstatement or non-disclosure has the potential,individually or collectively to:
A) affect the discharge of accountability by the governing body of the entity.
B) be greater than 1% of the total assets of the entity.
C) influence management to make decisions that will affect users of the financial report.
D) present the financial report in a 'true and fair' manner.
Correct Answer:
Verified
Correct Answer:
Verified
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