What are the rules for materiality limitif the amount of, Accounting Basics

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What are the rules for materiality limitif the amount of

Differentiation betweenmateriality in size and materiality in nature of an asset inaccounting.How we can distinguish between them.for example if thereis given that the carrying amount of machinery is 500000$ andincluded there in is a particular machine "A" with a carryingamount of 450000$.

If the company's materiality limit is 300000$ then whether themachine "A" to be separately disclosed from the other materialbased on its material size or not?And what if,in the case of"nature"?

What are the rules for materiality limit?If the amount of anasset exceeds or declines over materiality limit?

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Accounting Basics: What are the rules for materiality limitif the amount of

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Accounting Basics: What are the rules for materiality limitif the amount of

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Recent Questions Asked Accounting Basics

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