Which of the Following Is an Example of an Item

question 39

Multiple Choice

Which of the following is an example of an item considered qualitatively material according to AASB 1031 Materiality?

• A) a change in an accounting method
• B) related party transactions
• C) being in danger of breaching a debt covenant
• D) all of the above

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Definitions:

Intangible Items

Items that cannot be touched or physically measured, such as services, digital products, or intellectual property.

Physical Objects

Material things that can be seen and touched.

Affection

A feeling of fondness or love toward someone, which can manifest through physical or emotional expressions.

Sex

Refers to the biological characteristics that define humans as female or male; this can also extend to sexual activity involving the arousal, pleasure, and sometimes reproduction between individuals.