Which of the following states that a company must perform strictly proper accounting only for items that are significant to the business's financial statements?

a. accounting

b. materiality concept

c. disclosure principle

Answer: Among the given option, materiality concept states that a organization must execute proper accounting only for the part that are important to the organization's financial statements.

This concept refers to a state where the fiscal content of a organization is well thought out to be material from perspective of the preparation of the fiscal evidence if it has the potential to change the perspective or view of a reasonable individual.

Therefore, the correct option is (b)