Which of the Following Statements Relating to Materiality Is Correct

question 13

Multiple Choice

Which of the following statements relating to materiality is correct?

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

---

Definitions:

Christian Scholarship

The integration of Christian faith and intellectual pursuits, aimed at understanding or interpreting Christian doctrine and the Bible in an academic context.

Society

A complex network of individuals and groups interacting with each other, adhering to shared norms and values, and structured into various institutions.

Charles de Montesquieu

An 18th-century French philosopher known for his theory of separation of powers, which influenced modern democratic governments.

Thomas Hobbes

An English philosopher best known for his work "Leviathan," where he discusses the structure of society and legitimate government, and argues for a social contract and rule by an absolute sovereign.