alleryStart learning →Has the IASB given quantitative guidance for calculating materiality?
ANo, it refrained from doing so
BYes, 1 percent of assets
CYes, a fixed 5 percent
DYes, a sliding scale
Answer & Solution
Correct answer: A. No, it refrained from doing so
The IASB leaves numerical thresholds to judgement and has not set a mathematical rule.
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