What is materiality and how does it relate to relevance?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
Materiality refers to the magnitude of an omission or ...View the full answer
Answered By
Anthony Ngatia
I have three academic degrees i.e bachelors degree in Education(English & Literature),bachelors degree in business administration(entrepreneurship option),and masters degree in business administration(strategic management) in addition to a diploma in business management.I have spent much of my life in the academia where I have taught at high school,middle level colleges level and at university level.I have been an active academic essays writer since 2011 where I have worked with some of the most reputable essay companies based in Europe and in the US.I have over the years perfected my academic writing skills as a result of tackling numerous different assignments.I do not plagiarize and I maintain competitive quality in all the assignments that I handle.I am driven by strong work ethics and a firm conviction that I should "Do Unto others as I would Like them to do to me".
4.80+
76+ Reviews
152+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Question Posted:
Students also viewed these Accounting questions
-
What is materiality and how does it relate to relevance?
-
What is usury, and how does it relate to the cost of consumer credit?
-
What is OSHA, and how does it relate to a firms risk-management program?
-
Please answer the following e-commerce problem in at least 350 words (I encourage you to write more to fully respond to the prompt). This assignment will be graded. Electronic Commerce Problem: Erin...
-
Explain why the format of the following items in a journal entry are important: (a) Including a date. (b) Recording debit entries first. (c) Indenting credit entries. (d) Including a brief...
-
Problem 1: Your company is considering a project with an initial cash outlay of $500,000. The discount rate is 10%. Projected cash inflows for the next 5 years are: Year 1: $100,000; Year 2:...
-
The chemical potential of a pure substance is equal to the (a) Specific Gibbs' free energy (b) Molar entropy (c) The Gibbs' free energy (d) Molar Gibbs' free energy.
-
In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroits city council is considering passing a statute that would give investment tax...
-
A slab door, 2m high, 0.75m wide, 40mm thick, and with a mass of 36kg, is fitted with an automatic door closer. The door opens against a torsion spring with a modulus of 10N-m/radian. Determine the...
-
Is it possible for a firm to have a high current ratio and still find difficulties in paying its current debt? Explain with illustration.
-
Identify the secondary quality of useful accounting information. Why is this important and how does it relate to consistency?
-
What is the continuity assumption and why is it important in financial accounting?
-
Explain innovative techniques for decision making, including brainstorming, evidence-based management, and after-action reviews. Start with Brainstorming Use Hard Evidence Engage in Rigorous Debate...
-
When companies have excess cash beyond their needs, they can return this money to shareholders in the form of a dividend or through a stock repurchase. Differentiate the effects of repurchases and...
-
Marcus Holloway has $7500 that he will use as a down payment on a car. Assuming that he can afford a payment of $625 per month, how much can Marcus spend on a car (that is, what is the total cost of...
-
create a Chart of Accounts report for Mookie The Beagle Concierge as follows: Required: From the Navigation Bar, select Accounting to display the COA To run the COA report, from the Chart of Accounts...
-
Phone Corporation owns a 90% interest in Style Company, acquired several years ago at a cost equal to book value and fair value. Style sells merchandise to Phone for the first time in 2023, and some...
-
Fred Amigo, a resident taxpayer aged 58, is the recipient of a superannuation pension, which commenced on 1 July 2018. Theannualpension amountis$4O,OOO.PAYGtaxof$510waswithheldfrom the pension. ...
-
What role does innovation play in disaster/emergency response planning? What is the role of the DNP-prepared nurse in disaster mitigation and response?
-
Separate variables and use partial fractions to solve the initial value problems in Problems 18. Use either the exact solution or a computer-generated slope field to sketch the graphs of several...
-
Complete the table below for the computation and give the result as the correctly rounded answer with the greatest number of significant figures. 9.21 (3.251 3.115)/0.112 +
-
One writer recently noted that 99.4 percent of all companies prepare statements that are in accordance with GAAP . Why then is there such concern about fraudulent financial reporting?
-
One writer recently noted that 99.4 percent of all companies prepare statements that are in accordance with GAAP . Why then is there such concern about fraudulent financial reporting?
-
One writer recently noted that 99.4 percent of all companies prepare statements that are in accordance with GAAP . Why then is there such concern about fraudulent financial reporting?
-
Consider the general case of a block of mass MB hanging at rest and a dart of mass mo moving horizontally with speed vo. The dart hits and embeds in the block, and the center of mass of the...
-
3 kg of water, originally at 10 degrees Celsius, is mixed with 10 kg of lead. The final result at equilibrium is 16 degrees Celsius. Find the initial temperature of the lead. C = 4186 kg-C (specific...
-
Write a java program to perform to find out area of a square?
Study smarter with the SolutionInn App