The Materiality of an Item of Financial Information Refers to the Likelihood

question 52

Multiple Choice

The materiality of an item of financial information refers to the likelihood that its omission or misstatement would affect the judgments of those relying on that information.This concept most closely relates to the

• A)financial magnitude of the item
• B)verifiability of the item
• C)neutrality of the item
• D)feedback value of the item

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Definitions:

Embedded Operator

An integral part or function within a system or software that is designed to perform specific operations or tasks automatically.

Intelligent Personal Assistant

Software designed to perform tasks or services for individuals.

Augmented Reality

A combination of our normal sense of the objects around us with an overlay of information displayed.

Unwanted Visual Effects

Visual artifacts or disturbances that degrade the quality or appearance of digital media or interfaces.