An item that is considered material due to its nature is referred to as being;
A)Monumentally material.
B)Quantitatively material.
C)Qualitatively material.
D)Significantly material.

Question

Quizplus · Accepted Answer

"Qualitatively material" refers to an item that is material by nature, rather than by quantity or significance. This term is commonly used in accounting and financial reporting to describe items that have an impact on financial statements due to their inherent importance or significance.

An Item That Is Considered Material Due to Its Nature