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FASB 2 defines materiality as the magnitude of an omission or misstatement of accounting information that, in the light of surrounding circumstances, makes it probable
FASB 2 defines materiality as the magnitude of an omission or misstatement of accounting information that, in the light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on the information would have been changed or influenced by the omission or misstatement.
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