Accountancy, asked by Anonymous, 10 months ago

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what is materiality concept?​

Answers

Answered by ShubhaTJ
2

Explanation:

The Material Concept , also called the materiality constriant , states the financial information is material to financial statement if it would change the opinion or view of a reasonable person

Answered by Jasmine9115
8

Answer:

The materiality principle states that an accounting standard can be ignored if the net impact of doing so has such a small impact on the financial statements that a user of the statements would not be misled

Explanation:

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