Which of the Following Statement Is Correct

question 50

Multiple Choice

Which of the following statement is correct?

• A) Extensive guidance is given in accounting standards on the concept of materiality.
• B) The disclosure provisions of accounting standards must always be applied even if the resulting information is immaterial.
• C) Materiality only depends only ever depends on the size of an item.
• D) The disclosure provisions of accounting standards do not need to be applied if the resulting information is immaterial.

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Definitions:

Past 50 Years

A reference to the historical period extending approximately from the current year backwards through the last five decades.

Prejudice And Discrimination

Negative, unjust treatment of individuals based on differences like race, gender, or other characteristics, often rooted in preconceived judgments.

Minority Groups

Social groups that are differentiated from the majority in a society by characteristics such as culture, religion, ethnicity, or sexual orientation.

Prejudice

Preconceived opinions or judgments about individuals or groups based on certain biases, often without full knowledge or examination.