Identify the Accounting Concept or Principle That Relates to the Statement

question 9

Multiple Choice

Identify the accounting concept or principle that relates to the statement in each of the following questions:
-If a particular item is,by reason of its nature or its size,significant to a proper understanding of the situation,it should be separately stated.

• A) relevance
• B) reliability
• C) materiality
• D) prudence.

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Definitions:

Recognize

To identify or acknowledge the presence, existence, or validity of something or someone.

Emotions

Complex psychological states that involve a response to a specific stimulus, characterized by physiological changes and influencing thought and behavior.

Cultural Script

Implicit norms and conventions that guide individuals' behaviors and interactions within their cultural context.

Convey

To communicate or make known something, typically information or feelings.