Which statement is false concerning note disclosure?

The statement about qualitative materiality being omitted in note disclosures is false because qualitative factors are crucial in the context of financial reporting and note disclosures. While quantitative materiality emphasizes numerical significance, qualitative materiality considers the non-numeric aspects that can affect a user's understanding and decision-making. For example, even if an item does not meet quantitative thresholds, it may still be important for stakeholders to know about it because of its significance to the overall financial picture or compliance with regulations.

The importance of qualitative materiality is reflected in the need for disclosures that not only present numbers but also explain the nature of those numbers, any inherent risks, management's assumptions, and other factors that may impact the users' understanding. Therefore, omitting qualitative aspects would undermine the effectiveness and transparency of financial statements.

Focusing on the primary government in note disclosures ensures that the most relevant information is presented, which serves the interests of users looking to understand the government's financial position, while considering both quantitative and qualitative materiality ensures a comprehensive view. Hence, while the statements regarding quantitative materiality and focusing on the primary government are accurate, the assertion that qualitative materiality should be omitted is incorrect.