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Week $1$ Activity Sequence

Question $2$

$2$ pts

Which of the following statements best expresses the Materiality Principle?

Financial reporting standards focus on economic events that involve things with tangible physical substance.

Financial reporting standards focus on economic events that could have a substantive effect on investors' decisions.

Financial reporting standards focus on economic events that involve the primary business of the entity.

Financial reporting standards focus on economic events that can be confirmed by a third party.