Which One of the Following Statements Is Correct Concerning the Concept

question 70

Multiple Choice

Which one of the following statements is correct concerning the concept of materiality?

• A)Materiality is determined by reference to guidelines established by the Australian Securities and Investments Commission (ASIC).
• B)Materiality depends only on the dollar amount of an item relative to other items in the financial report.
• C)Materiality depends on the nature of an item rather than on the dollar amount.
• D)Materiality is a matter of professional judgment.

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Definitions:

Workplace Information

Refers to data and insights related to the organizational environment, employee roles, and operational procedures.

Work-family Conflict

A form of conflict arising when the demands and pressures from work and family roles are mutually incompatible, leading to stress and strain.

Degree Of Autonomy

The extent to which individuals or units within an organization have the freedom to make decisions and take actions independently.

Poor Job Design

The process of structuring a job poorly, leading to inefficiency and dissatisfaction among employees due to unclear roles, lack of autonomy, or unbalanced workloads.