Business, 28.05.2021 14:00 chrissak8118
Information is considered material to the financial statements if
I. It falls within industry-specific quantitative guidelines published by the Financial Accounting Standards Board.
II. Its omission could make a difference in the decisions made by a user relying on the financial statements.
III. Its misstatement could make a difference in the decisions made by a user relying on the financial statement.
a. I and IIl only.
b. Il and Ill only.
c. I, Il and III.
d. I only.
Answers: 2
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Information is considered material to the financial statements if
I. It falls within industry-speci...
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