Which of the following statements about accounting concepts and the characteristics of financial information is correct?

Which of the following statements about accounting concepts and the characteristics of financial information is correct?
A . The concept of substance over form means that the legal interpretation of a transaction must be reflected in financial statements, regardless of the economic substance.
B . The historical cost concept means that only items capable of being measured in monetary terms can berecognizedin financial statements.
C . It may sometimes be necessary to exclude information that is relevant and reliable from financial statements because it is too difficult for some users to understand.
D . A specific disclosure requirement of an IAS does not need to be satisfied if the information is immaterial.

Answer: D