An item of information or amount is not separately reported in a financial statement, on account of

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An item of information or amount is not separately reported in a financial statement, on account of materiality, if:

(a) It accounts for less than 5% of the balance sheet total

(b) It would not be significant for economic decisions made by stakeholders

(d) Its reporting will assist competitors

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 31, 2023 02:25 AM

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An item of information or amount is not separately reported in a financial statement, on account of

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b It would not ...View the full answer

Financial Accounting An Introduction

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