Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 52

The concept of materiality (indicate all correct answers):
a.equires that financial statements be accurate to the nearest dollar, but need not show cents.
b.s based upon what users of financial statements are thought to consider important.
c.ermits accountants to ignore generally accepted accounting principles in certain situations.
d.ermits accountants to use the easiest and most convenient means of accounting for events that are immaterial.