According to AASB 108,omissions or misstatements are material if they:
A) are greater than 50% of the relevant base amount.
B) are as a result of fraud.
C) could influence the economic decisions that users make on the basis of the financial statements.
D) are less than 10% of the relevant base amount.
Correct Answer:
Verified
Q22: Errors can occur for which of the
Q23: A complete set of financial statements will
Q24: General purpose financial statements are prepared for
Q25: Comparative information in respect of all previous
Q27: The financial position of an entity as
Q29: Which of the following statement is correct?
A)
Q33: In determining whether an item is material,
Q35: Events occurring after the end of the
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Q38: The correction of a material error that
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