An Item Is Considered Material If

question 3

Multiple Choice

An item is considered material if

• A)It doesn't costs a lot of money.
• B)It is of a tangible good.
• C)It is likely to influence the decision of an investor or creditor.
• D)The cost of reporting the item is greater than its benefits

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Definitions:

Employer

An individual or entity that hires and pays wages to employees for their labor.

Unfair Business Practices

Actions undertaken by businesses that are deceptive, misleading, or unethical, often to gain an advantage over consumers or competitors.

Penalties

Fines or other forms of punishment imposed on individuals or organizations for breaking laws or regulations.

Sale Of Goods Act

Legislation that regulates the sale of goods, ensuring certain standards of quality and fitness for purpose among other sales rights and duties.