Accountancy, asked by aashutoshmishra2873, 2 months ago

Which records only quantitative aspect of material

Answers

Answered by shishupalmahto
3

Answer:

qualative

materiality in the financial statements refers to the misstatements or omission which the cause of them could influence the user's economic decision.

Answered by KishoreEga
0

Answer:

Accounting records only quantitative aspects of material.

Explanation:

Accounting is the process, where all the transactions are summarized, classified and recorded in the books of account on quantitative basis.

Quantitative basis means recording all transactions in terms of numbers expressly monetary values.

Quantitative methodology signifies the concept of money measurement. It helps to know the changes in numbers by converting to meaningful relationships i.e. percentages.

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