For nonprofit entities, appropriate benchmarks for materiality judgments would include which of the following?
A) Total assets and total liabilities.
B) Total revenues and total assets.
C) Total liabilities, total income, or total assets.
D) Total expenses, total revenues, or total assets.

Question

Quizplus · Accepted Answer

For nonprofit entities, materiality is often judged based on total expenses, total revenues, or total assets, as these figures are more relevant to their financial activities and objectives.

For Nonprofit Entities, Appropriate Benchmarks for Materiality Judgments Would Include