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The accountant of Scrub and Shine Ltd identified an aggregate charge of $500 000 (comprising 126 various supplier invoices) of advertising expense for a new
The accountant of Scrub and Shine Ltd identified an aggregate charge of $500 000 (comprising 126 various supplier invoices) of advertising expense for a new microfibre cloth within the entity's financial records. Should the accountant present this item separately in the financial statements? O a. No, the individual values of the invoices comprising this amount are immaterial. The disclosure requirements do not apply to immaterial items: No, the individual values of the invoices comprising this amount are immaterial. The disclosure requirements do not apply to immaterial items. n who owns a fishing and camping store is keen to expand his product range by approaching his suppliers to ask about increasing his credit limit. O b. Yes, details of all transactions should be disclosed to assist users make fully informed decisions. c. Yes, the aggregate value of this advertising expenditure is material. other Od Possibly. This would depend on the size and nature of the advertising expenditure relative to items disclosed in the financial report
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