Which of the following statements about materiality is not correct?
A) An item is material if its inclusion or omission would inﬂuence or change the judgement of a reasonable person.
B) The amount involved must make a difference or it should not be disclosed.
C) Materiality is a matter of both its nature and relative size.
D) A traditional guideline for auditors is 5 to 10 percent of net earnings.

Question

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The Answer of Which of the following statements about materiality is not correct?
A) An item is material if its inclusion or omission would inﬂuence or change the judgement of a reasonable person.
B) The amount involved must make a difference or it should not be disclosed.
C) Materiality is a matter of both its nature and relative size.
D) A traditional guideline for auditors is 5 to 10 percent of net earnings.

Which of the Following Statements About Materiality Is Not Correct