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Materiality Concept

Information a...

Question

Information about an item is ___ , if its omission or misstatement might influence the decisions of the users of financial statements taken on the basis of that information.

A

Concrete

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B

Complete

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C

Immaterial

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D

Material

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Solution

The correct option is D
Material

Information is material, if its omission or misstatement could influence the economic decisions of users of financial statements taken on the basis of such information.

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