Which of the following statements about materiality is correct?

a.     An item is material if its inclusion or omission would influence or change the judgment of a reasonable person

b.     All the answers are correct.

c.      Materiality is a matter of relative size or importance.

d.     An item must make a difference, or it need not be disclosed.

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Dora's W-2 Form Dora's w-2 from her butcher's job showed the following: Visit the IRB wabate at www.i.gofefie Emploves's socal security number Safe, accurate, e n file OMB Na. 1545-0008 467-74-4451 FASTE Use b Employer identification number (EIN) 1 wages, tips, other compensation 2 Federal income tax withhele 33-0711111 51,020.40 3,052.87 c Employer's name, address, and ZIP code 3 Social security wages 4 Social security tax withheld 51,020.40 3,163.26 Knoxville unified School District 5 Medicare wages and tips 6 Medicare tax withheld 1700 Harding Valley Street Knoxville, TN 37932 51,020.40 739.80 7 Social security tips 8 Allocated tips d Control number 10 Dependent care benefits e Emplayee's first name and initial Last name Suft. 11 Nonqualified plans 12a See instructions for bax Dora Knox 13 Statutory employee Retirement plan Third-party sick pav Code I 143 Maple Street 202ב Kaoxdl, TN 12b 14 Other Code 1 12c Code 1 12d Code I f Employee's address and ZIP code 15 State Employer's state ID number 16 State wages, tips, etc.17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality nam TN ****USING ABOVE Dora's W-2 from her butcher's job Complete Form 1040 for Dora and Hardy for the 2020 tax year. Dora's W-2 Form Dora's w-2 from her butcher's job showed the following: Visit the IRB wabate at www.i.gofefie Emploves's socal security number Safe, accurate, e n file OMB Na. 1545-0008 467-74-4451 FASTE Use b Employer identification number (EIN) 1 wages, tips, other compensation 2 Federal income tax withhele 33-0711111 51,020.40 3,052.87 c Employer's name, address, and ZIP code 3 Social security wages 4 Social security tax withheld 51,020.40 3,163.26 Knoxville unified School District 5 Medicare wages and tips 6 Medicare tax withheld 1700 Harding Valley Street Knoxville, TN 37932 51,020.40 739.80 7 Social security tips 8 Allocated tips d Control number 10 Dependent care benefits e Emplayee's first name and initial Last name Suft. 11 Nonqualified plans 12a See instructions for bax Dora Knox 13 Statutory employee Retirement plan Third-party sick pav Code I 143 Maple Street 202ב Kaoxdl, TN 12b 14 Other Code 1 12c Code 1 12d Code I f Employee's address and ZIP code 15 State Employer's state ID number 16 State wages, tips, etc.17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality nam TN ****USING ABOVE Dora's W-2 from her butcher's job Complete Form 1040 for Dora and Hardy for the 2020 tax year.

Answer rating: 100% (QA)

c Materiality is a matter of relative size or importance The concept of materiality in accounting is ... View the full answer