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December 2011 Qs : Willow co
How do you find materiality..
It says that obsolete inventory is not materiAl . How to find it..?What about where the question says “$800,000 for assets and liabilities, $250,000 for income and expenses”?
Doesn’t that indicate the materiality levels?
So now you have to make the decision “Is this $130,000 material either in isolation or when aggregated?”
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