For Information in Financial Reports to Be Material, It Must

question 22

Multiple Choice

For information in financial reports to be material, it must:

• A)be prepared on a timely basis.
• B)affect the discharge of accountability by management of the reporting entity.
• C)influence the decisions of users of that information.
• D)Both B and C.

---

Definitions:

Discriminatory Laws

Legislation that enacts inequality or unfair treatment of individuals or groups based on race, gender, age, or other criteria.

Boycotts

The withdrawal from commercial or social relations with a country, organization, or person as a form of protest or punishment.

Symbolic Constitution

A theoretical construct or interpretation of a constitution that emphasizes its role as a symbol of national values and principles rather than just a set of legal rules.

William Lloyd Garrison

An American abolitionist, journalist, suffragist, and social reformer who is best known for his editorship of the abolitionist newspaper The Liberator and for being one of the founders of the American Anti-Slavery Society.