Materiality is judged using only quantitative factors.

Name: Materiality is judged using only quantitative factors.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Materiality is judged using both quantitative and qualitative factors. While quantitative factors such as the amount of a misstatement may be important, qualitative factors such as the nature of the misstatement and its potential impact on users of the financial statements must also be considered.

Materiality Is Judged Using Only Quantitative Factors