_________ Refers to the Importance of an Item to Financial

question 43

Multiple Choice

_________ refers to the importance of an item to financial statement users in terms of its relevance to decision-making.

• A)Comparability
• B)Materiality
• C)Consistency
• D)Objectivity

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Definitions:

Reinforcement

A concept in psychology referring to any process that increases the likelihood of a behavior being repeated, using rewards or punishments following that behavior.

Social Learning

The process of acquiring skills, knowledge, and behaviors by observing and imitating others.

Bribery

The offering, giving, receiving, or soliciting of any item of value as a means of influencing the actions of an individual holding a public or legal duty.

Contextual Influences

The impact of environmental and situational factors on individuals' thoughts, behaviors, and feelings.