Materiality is a rather than an absolute concept.

Name: Materiality is a rather than an absolute concept.
Brand: Quizplus
Rating: 4.8 (44 reviews)

Question

Quizplus · Accepted Answer

Materiality is relative because it depends on the context and circumstances. Something that may be immaterial for one company may be material for another company, and something that may be immaterial in one period may be material in another period. Materiality is assessed based on various qualitative and quantitative factors.

Materiality Is a Rather Than an Absolute Concept