1. How does the concept of materiality relate to the size of a company? 2. Does the IASB recognize similar qualitative characteristics of useful financial information to those recognized by the FASB?...

1. How does the concept of materiality relate to the size of a company?

2. Does the IASB recognize similar qualitative characteristics of useful financial information to those recognized by the FASB? Explain your answer.

3. How does the concept of the operating cycle relate to the definition of a current asset?