For information to be considered material:
A) it must be complete.
B) it must not include any bias.
C) its omission or misstatement could influence users' decision-making.
D) it has a predictive or confirmatory value.

Question

Quizplus · Accepted Answer

Materiality refers to the nature and extent of information that can influence users' decision-making. Thus, information is considered material if its omission or misstatement could affect the decisions made by users. Completeness and absence of bias are important characteristics of reliable information, but they do not determine materiality. Predictive or confirmatory value refers to the ability of information to help users make predictions about future events or confirm their prior expectations, which is also not necessarily related to materiality.

For Information to Be Considered Material