Question: 1. Explain what the word materiality means in the context of this statement: Kraft said it launched an independent counsel review of its procurement practices

1. Explain what the word materiality means in the context of this statement:

"Kraft said it launched an independent counsel review of its procurement practices after it received the SEC subpoena. The company said it "recorded a $25 million increase to costs of products" as a result of that investigation, but that they "were immaterial to the fourth quarter of 2018." The SEC declined to comment."

100 word minimum total.

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