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Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 19
With respect to the concept of materiality, which of the following statements is correct?
A) Materiality depends only on the dollar amount of an item relative to other items in the financial statements.
B) Materiality depends on the nature of a transaction rather than the dollar amount of the transaction.
C) Materiality is determined by reference to AICPA guidelines.
D) Materiality is a matter of professional judgment.
A) Materiality depends only on the dollar amount of an item relative to other items in the financial statements.
B) Materiality depends on the nature of a transaction rather than the dollar amount of the transaction.
C) Materiality is determined by reference to AICPA guidelines.
D) Materiality is a matter of professional judgment.
Explanation
Verified
Verified
Materiality means that level of an item ...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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