FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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what is materiality?

Expert Solution
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Step 1 General Introduction

Materiality is an accounting concept that signifies the importance of an item to users of financial statements. Information contained in the financial statements must therefore be complete in all material respects to present a true and fair view of the affairs of the entity.

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