According to this convention, important items must be recorded instead of being left out or merged with other items.
A)Convention of Consistency
B)Convention of Full Disclosure
C)Convention of Materiality
D)Convention of Prudence

Question

Quizplus · Accepted Answer

The Convention of Materiality states that all important financial information and items must be recorded separately and not omitted or merged with other items, as they could influence the decision-making of users of financial statements.

According to This Convention, Important Items Must Be Recorded Instead