When determining whether an item of expenditure is material,the following must be considered:
A) the size and/or nature of the expense.
B) whether its non-disclosure could have an impact on users' decision making.
C) whether a related asset has been impaired.
D) all of the above options must be considered.

Question

Quizplus · Accepted Answer

All of the options must be considered when determining whether an item of expenditure is material. The size and/or nature of the expense, whether its non-disclosure could have an impact on users' decision making, and whether a related asset has been impaired are all important factors to consider.

When Determining Whether an Item of Expenditure Is Material,the Following