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29 June, 23:59

Define the meaning of the term materiality as it is used in accounting and auditing.

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  1. 30 June, 01:00
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    In layman's terms, the meaning of materiality in the context of accounting and auditing is the seriousness of an exclusion or inaccurate accounting information that may result in a person's judgement, wherein his or her judgement may be different if the accounting information was accurate and not omitted.
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