In the Statement of Financial Accounting Concepts (SFAC) No. 8. SFAC No. 8 the position about materiality

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In the Statement of Financial Accounting Concepts (SFAC) No. 8. SFAC No. 8 the position about materiality is that:

a). It should always be determined only through qualitative evaluations

b). It should always be determined through quantitative evaluations

c). It should always be determined by considering whether the amount affects past financial statements

d). It should be determined by how the magnitude of the item would be viewed by a reasonable person

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0470423684

13th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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Posted Date: Aug 24, 2020 01:30 AM

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In the Statement of Financial Accounting Concepts (SFAC) No. 8. SFAC No. 8 the position about materiality

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Materiality refers to an amount whose misstatement in financial s... View the full answer

Intermediate Accounting

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