Worldatwork Exam T7 Topic 1 Question 98 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 98
Topic #: 1

[All T7 Questions]

Company XYZ does not disclose any information in the notes to their financial statements unless the value of the information to users exceeds the expense of gathering it. Which constraint of Level 3 of the conceptual framework does this represent?

ACost

BMateriality

CExpense

DDisclosure

Show Suggested Answer

Suggested Answer: B

by Levi at Sep 16, 2024, 09:44 AM

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Cristy

11 hours ago

I'm not sure, but I think it could also be A) Cost. They might be considering the cost of gathering the information.

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Elmer

4 days ago

I agree with Keneth. It makes sense that Company XYZ would only disclose information if it's material to users.

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Keneth

5 days ago

I think the answer is B) Materiality.

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