Information whose omission or misstatement could influence decisions that users make on the basis of financial information about a specific reporting entity defines which characteristic of accounting information?
A) Comparability
B) Verifiability
C) Cost-benefit
D) Materiality

Question

Quizplus · Accepted Answer

Materiality refers to the significance of financial information that could influence the decision-making of users if omitted or misstated.

Information Whose Omission or Misstatement Could Influence Decisions That Users