An item that is considered material due to its magnitude is referred to as being
A) quantitatively material.
B) of no interest to the auditor.
C) qualitatively material.
D) none of the above

Question

Quizplus · Accepted Answer

Quantitatively material refers to the significance of an item's size or amount in financial statements, which could influence the decision-making of users.

An Item That Is Considered Material Due to Its Magnitude