Solved

Which of the Following Statements Is Correct

Question 8

Multiple Choice

Which of the following statements is correct?


A) Extensive guidance is given in accounting standards on the concept of materiality.
B) The disclosure provisions of accounting standards must always be applied even if the resulting information is immaterial.
C) Materiality only ever depends on the size of an item.
D) The disclosure provisions of accounting standards do not need to be applied if the resulting information is immaterial.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents