Materiality (A. )Identify Several Factors Considered by an Accountant in Deciding

question 90

Essay

Materiality
(A. )Identify several factors considered by an accountant in deciding whether an item is "material."
(B. )Does the concept of materiality complicate or simplify the process of making adjusting entries? Give an illustration to support your answer.

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Definitions:

Marbles

Small, round objects, typically made of glass, clay, steel, plastic, or agate, used as playing pieces in various children's games or as a collectible item.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, where an association is made between a behavior and a consequence for that behavior.

Token Economy

A behavioral modification technique based on the systematic reinforcement of target behavior. The reinforcements are tokens that can be exchanged for other reinforcements.

Token Economy

A behavior modification system used to encourage a desired behavior through the use of tokens that can be exchanged for various rewards.