An item is considered material if
A)It doesn't costs a lot of money.
B)It is of a tangible good.
C)It is likely to influence the decision of an investor or creditor.
D)The cost of reporting the item is greater than its benefits

Question

Quizplus · Accepted Answer

An item is considered material if its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements.

An Item Is Considered Material If