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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 44
The concept of materiality is an underlying principle of financial reporting.
a. Briefly explain the concept of materiality.
b. Is $2,500 a "material" dollar amount? Explain.
c. Describe two ways in which the concept of materiality may save accountants' time and effort in making adjusting entries.
a. Briefly explain the concept of materiality.
b. Is $2,500 a "material" dollar amount? Explain.
c. Describe two ways in which the concept of materiality may save accountants' time and effort in making adjusting entries.
Explanation
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a.
The term materiality refers to the re...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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