Purpose of Materiality Judgments and Common Benchmarks and Thresholds

question 97

Essay

Purpose of Materiality Judgments and Common Benchmarks and Thresholds
What are the key aspects in materiality judgments? Explain the purpose of materiality judgments,common benchmarks,and thresholds.

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Definitions:

Range

denotes the extent or scope of something, often referring to the difference between the highest and lowest values in a set of data or the variety within a category.

Expectancy

In the context of motivation, it is the belief that one's effort will result in attainment of desired performance goals.

Instrumentality

In the context of motivation, the belief that a particular level of performance will lead to the attainment of desired outcomes.

Effort

The physical or mental exertion applied in order to achieve something; often related to the intensity of work or study.