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@sirhanj, yes correct but then what was required to be ticked was relating to the 15000 amount so this was not material according to me because 12000 was a separate balance and this was a separate balance.Thus they were two different balances, we cannot combine both of them together and check materiality. Since 25000 was not financial statement level materiality.
Hi @sirhanj,
What I feel is- about this question. Since i got the same question in exam.
There were two amounts you are right. But then we were testing them individually and comparing with the set limit which is 25000. I guess. So 13000 was different and 12000 was different . And these were two different balances to be tested and compared with the set materiality. So since 12000 is less than the 25000,hence not material.
