According to AASB 108/IAS 8, omissions or misstatements are material if they:
A) are greater than 50% of the relevant base amount.
B) are as a result of fraud.
C) could influence the economic decisions that users make on the basis of the financial statements.
D) are less than 10% of the relevant base amount.
Correct Answer:
Verified
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Q29: Which of the following statement is correct?
A)
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Q33: In determining whether an item is material,
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