Benchmarks Are Needed for Evaluating Materiality

question 62

Multiple Choice

Benchmarks are needed for evaluating materiality.What base would you use for the balance sheet?

• A) operating profit before income tax
• B) current assets
• C) total assets
• D) current liabilities

---

Definitions:

Scorpions

Arachnids known for their venomous stings, eight legs, and distinctive extended body with a segmented tail.

Spiders

Arthropods belonging to the class Arachnida, characterized by eight legs, silk-producing spinnerets, and a two-part body consisting of a cephalothorax and abdomen.

Winged Invertebrates

Invertebrate animals that possess wings, allowing them to fly; includes insects and some species of arachnids.

Hymenoptera

An order of insects that includes wasps, bees, and ants, characterized by two pairs of wings and a constriction between the abdomen and thorax.