Materiality is a measure of magnitude; yet, it is affected by both quantitative and qualitative factors.

Question

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Materiality is a measure of magnitude, meaning it is based on the amount or size of an item or event. However, it can also be affected by qualitative factors, such as the nature or significance of the item or event. Therefore, both quantitative and qualitative factors can impact materiality.

Materiality Is a Measure of Magnitude; Yet, It Is Affected