Explain why materiality is important but difficult to apply in practice.

Materiality is important because if financial statements are materially misstated, users' decisions might be affected, and therefore cause financial loss to them. It is difficult to apply because quite often there are different users of the financial statments.

The changes to agriculture in the united states since 1900 is that increased mechanization has increased food production, thereby increasing the need for labor. there has been an increased need for higher speeds of food production due the fact that the population in the united states continues to rise.