Question: An item is considered material if (select the best answer) Multiple Answers can be right. 1. The monetary amount disclosed is greater than 25% of

An item is considered material if (select the best answer) Multiple Answers can be right.

1.

The monetary amount disclosed is greater than 25% of total assets.
2.

It is of a tangible good
3.

The cost of reporting the item is greater than its benefits
4.

It is likely to influence the decision of an investor or creditor.

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