Question

What Is Materiality?

Answer 1

Hey !

Materiality concept is a GAAP relating to
the importance/significance of the
account or transaction.

Answer 2

Answer:

$\huge\bf\pink{\mid{\overline{\underline{Materiality}}}\mid}$

Explanation:

Materiality therefore relates to the significance of transactions, balances and errors contained in the financial statements.

Materiality defines the threshold or cutoff point after which financial information becomes relevant to the decision making needs of the users.

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