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.