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Question Practice

Why is the materiality concept important in accounting?

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MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Theory Base of Accounting
Question Bank

Why is the materiality concept...

Single Answer MCQ
Q-00053831

Why is the materiality concept important in accounting?

1

It ensures all figures are exact

2

It allows ignoring trivial items

3

It mandates full disclosure of every transaction

4

It requires reporting all transactions in detail

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