incumbent adjective (NECESSARY). âº ânecessary: [+ to infinitive] It is incumbent upon (= ânecessary for) all of us to âcreate a âsafe âcommunity. (Definition of incumbent from the Cambridge Academic Content Dictionary Â© Cambridge University Press).ncumbent noun [C]. âº the âperson who has or had a âparticular âofficial âposition: the first/last/âprevious incumbent The âpresent incumbent (of the âpost) is âdue to âretire next âmonth. (Definition of incumbent from the Cambridge Advanced Learnerâs Dictionary & Thesaurus Â© Cambridge University Press).
Freebase(5.00 / 1 vote)Rate this definition: Modernity. Modernity typically refers to a post-traditional, post-medieval historical period, one marked by the move from feudalism toward capitalism, industrialization, secularization, rationalization, the nation-state and its constituent institutions and forms of surveillance.
Materiality is a concept or convention within auditing, accounting, and securities regulation relating to the importance/significance of an amount, transaction, or discrepancy.ateriality depends on the size of the item or error judged in the particular circumstances of its omission or misstatement. Thus, materiality provides a threshold or cut-off point rather than being a primary qualitative characteristic which information must have if it is to be useful..