Materiality is based upon which factor(s)?
A)Timeliness of an item.
B)Amount and nature of an item.
C)Consistency of an item.
D)Relevance of an item.

Question

Quizplus · Accepted Answer

Materiality is based on the amount and nature of an item. In other words, if an item is significant enough to affect a decision-maker's judgment, it is considered material. Timeliness, consistency, and relevance are also important factors to consider, but they are not the core determinants of materiality.

Materiality Is Based Upon Which Factor(s)