Multiple Choice
The concept of materiality is applied because;
A) it makes the accounts more user-friendly if the numbers are rounded up
B) it is difficult for those who are using the accounts to read the small numbers
C) it is easier and is good enough for information purposes
D) it makes stock taking easier by allowing people to make estimates.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The government are not users of the
Q2: Timeliness is a characteristic of useful information.
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Q7: The acronym IASB stands for;<br>A)Internal Accounting Standards
Q8: Which of the following is <u><b>NOT</b></u> a
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Q10: The concept of 'going concern' means that