___________ is related to both the nature of an item and its size.
A)Neutrality
B)Materiality
C)Verifiability
D)Timeliness

Question

Quizplus · Accepted Answer

Materiality is a concept that relates to both the nature of an item (i.e. its significance) and its size. This concept is central to the practice of auditing, as auditors must determine which misstatements in financial statements are material enough to warrant a modification of their audit opinion.

___________ Is Related to Both the Nature of an Item