Which of the following is true about materiality?
A) Materiality should be considered from the perspective of management.
B) A line item that is individually material is aggregated with other items in the financial statements or notes.
C) When assessing materiality of prior period errors, the effect on profitability trends should not be considered.
D) Judgment is required to determine whether prior-period errors are material because even immaterial prior-period errors will impact users' decisions made on the basis of the financial statements.
E) None of the above.

Question

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The Answer of Which of the following is true about materiality?
A) Materiality should be considered from the perspective of management.
B) A line item that is individually material is aggregated with other items in the financial statements or notes.
C) When assessing materiality of prior period errors, the effect on profitability trends should not be considered.
D) Judgment is required to determine whether prior-period errors are material because even immaterial prior-period errors will impact users' decisions made on the basis of the financial statements.
E) None of the above.

Which of the Following Is True About Materiality