Identify the Accounting Concept or Principle That Relates to the Statement

question 25

Multiple Choice

Identify the accounting concept or principle that relates to the statement in the following question: 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) Faithful representation
• C) Materiality
• D) Comparability

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Definitions:

Questionnaires

A method of research involving a series of written or oral questions to gather information from respondents.

Human Nature

The inherent characteristics, including ways of thinking, feeling, and behaving, that all humans are presumed to share.

Spontaneity

The quality of being spontaneous, unplanned or arising naturally and without premeditation.

Social Problems

Issues that affect a significant number of people within a society, perceived to be preventable or amendable through collective social actions.