According to AASB1031, are the following amounts material or immaterial? Please show working. and justify your answers.
1. Operating profit is $1,000,000. an expense misstatement is $30,000.

2. Total assets are $1,500,000, an asset misstatement is $90,000.

3.Operating profit is $800,000, total assets: $1,200,000, a liability misstatement is $80,000.

4. Operating profit is $800,000, total assets: $1,200,000, an asset misstatement is $150,000.

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Answer rating: 100% (QA)

Ans 1 Immaterial less than 5 misstatements Ans 2 materialas It amount to 6 o... View the full answer