Likely misstatements ________.
A)are those actually identified during the audit,so there is no uncertainty about their existence
B)are those that probably exist,based on audit evidence examined
C)are those that could exist over and above the total of known and likely misstatements because of the fundamental limitations of auditing
D)are those for which the amount of possible misstatement cannot be precisely quantified

Question

Quizplus · Accepted Answer

Likely misstatements are those that probably exist based on the audit evidence examined, indicating a potential error or misstatement that hasn't been precisely identified but is inferred from the evidence.

Likely Misstatements ________