An Item Is Considered Material If

question 65

Multiple Choice

An item is considered material if

• A) it doesn't cost a lot of money.
• B) it is of a tangible good.
• C) it is likely to influence the decision of an investor or creditor.
• D) the cost of reporting the item is greater than its benefits.

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Definitions:

Mutually Exclusive

Events that cannot occur at the same time, implying no overlap between outcomes.

Dependent Events

Events whose probability of occurring is influenced by the occurrence of another event.

Mutually Exclusive

Refers to a situation where the occurrence of one event means the other cannot occur.

Independent

A term in statistics that describes two or more events that do not affect each other's outcomes.