Which of the Following Would Not Be an Appropriate Benchmark

question 38

Multiple Choice

Which of the following would not be an appropriate benchmark to use in setting financial statement-level materiality?

• A) a percentage of total revenue
• B) a percentage of total assets
• C) a percentage of current liabilities
• D) a percentage of profit from continuing operations

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Definitions:

Group Interests

The collective goals or aspirations of a specific group of individuals based on shared identities or purposes.

Postmaterialist Thesis

A theory suggesting that after material basic needs are met, individuals and societies tend to prioritize non-materialistic values and cultural and intellectual needs.

Bread-and-Butter Issues

Fundamental and practical problems or concerns, typically relating to basic needs or economic well-being, that affect everyday life.

Inequality

The state of not being equal, especially in terms of status, rights, and opportunities, leading to disparities in income, wealth, and living conditions.