When the overstatement/understatement or omission of an information affects the credibility of financial statement, it refers as?

A. Immaterial
B. Omission
C. Material
D. None of these

Brief facts about this MCQs:

We call an information Material when its understatement/overstatement and omission affects the credibility of financial statements. Materiality is an important concept of accounting.
Also Read: MCQs on accounting principles