The presumption is that a material item is one that is ________ of an appropriate base amount.
A)greater than 20%
B)greater than 10%
C)equal to or less than 5%
D)greater than 5%

Question

Quizplus · Accepted Answer

A material item is typically considered to be one that is greater than 10% of an appropriate base amount, as this threshold is commonly used in accounting and financial contexts to determine materiality.

The Presumption Is That a Material Item Is One That