IMMATERIALITY Meaning and
Definition
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Immateriality refers to the state or quality of lacking physical substance, importance, or relevance. It is a term that can be applied across various contexts, including philosophy, law, and accounting, among others.
In philosophy, immateriality pertains to the concept of something that is not composed of material or physical elements. It is often used to describe abstract concepts such as thoughts, emotions, or spiritual entities that are believed to exist independently from the physical world. Immateriality in philosophy is often associated with the notion of dualism, which posits that mind and body are two separate entities.
In legal terms, immateriality refers to facts or circumstances that are considered irrelevant or insignificant within a legal context. For instance, during a court case, a judge may rule a particular piece of evidence as immaterial if it does not have any bearing on the outcome of the case or on the legal issues under consideration.
In accounting, immateriality refers to items or transactions that are of minor significance or small monetary value. Accountants often utilize the concept of materiality to determine whether certain information needs to be disclosed or reported in financial statements. If a particular item is deemed immaterial, it may be overlooked or excluded from financial reporting, given its lack of impact on the overall financial picture of an organization.
Overall, immateriality connotes a lack of material substance, relevance, or importance in varying contexts, ranging from philosophical to legal and accounting.
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The quality of not consisting of matter; distinctness from body or matter.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
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Other Common Misspellings for IMMATERIALITY
Etymology of IMMATERIALITY
The word "immateriality" is derived from the combination of the Latin prefix "im-" meaning "not" or "without", and the English word "materiality", which comes from the Latin word "materia" meaning "matter" or "substance". When these elements are combined, "immateriality" is formed, meaning the state of being immaterial or lacking material substance.
Similar spelling words for IMMATERIALITY
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