Do you believe that the $785,000 amount at the center of the Overstock-Grant Thornton dispute was material? Defend your answer. What factors other than quantitative considerations should have been considered in deciding whether the $785,000 amount was material?

Yes

Explanation:

The $785,000 was material because it meets both the quantitative and qualitative factors for materiality. Quantitatively, it is more than 10% of the net income of the company ($7.7million) and qualitatively, it showed a relaxed attitude of management towards accounting misstatements.

Some factors other than quantitative considerations that can be used to determine the materiality of the amount in question are:

answer; im thinking the correct answer is (7years);