Question 3 2 pts Which of the following statements is false? If an event that should be capitalised is deemed immaterial, then, according to IFRS, it must be expensed. The qualitative characteristic of relevance best justifies expensing an event that otherwise should be capitalised. O In New Zealand, large, non-publicly accountable, private sector for-profit entities have the choice of following Tier I or Tier II IFRS. In New Zealand, small, non-publicly accountable, private sector for-profit entities do not have to follow IFRS