Question
Clace Ltds company operations are based in Australia, but recently they have been awarded long-term contracts in Thailand and Nigeria. This information: is not material
Clace Ltds company operations are based in Australia, but recently they have been awarded long-term contracts in Thailand and Nigeria. This information:
is not material to the users of Clace Ltds financial statements, given the political and economic instability of these two countries, so should not be disclosed until the revenue is earned and the expenses are incurred. | ||
is material to the users of Clace Ltds financial statements, given the political and economic instability of these two countries, and should be recorded as a liability in the statement of financial position. | ||
is material to the users of Clace Ltds financial statements, given the political and economic instability of these two countries, and should be disclosed in the notes. | ||
is material to the users of Clace Ltds financial statements, given the political and economic instability of these two countries, and should be recorded as an asset in the statement of financial position. |
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