An Item Is Considered Material If

question 63

Multiple Choice

An item is considered material if

• A) it doesn't costs a lot of money.
• B) it is of a tangible good.
• C) its size 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:

Legal Right

An entitlement or permission under the law that allows an individual to act in a specific way or to be treated in a specific manner.

Diagnosis

The identification of the nature and cause of something (typically a disease or condition) through the examination of symptoms and signs.

Ethical Codes

Formal documents developed by professional organizations to guide the behavior and decision-making process of its members.

Test Security

Professionals have the responsibility to make reasonable efforts to assure the integrity of test content and the security of the test itself. Professionals should not duplicate tests or change test material without the permission of the publisher.