The difference between what is reported in the client prepared financial statements and what is required for the item to be presented fairly in accordance with the applicable financial reporting framework is called _______.
A)misstatement
B)projected estimate
C)auditing misappropriation
D)accumulated inaccuracy

Question

Quizplus · Accepted Answer

The difference between what is reported and what is required for fair presentation is called a misstatement. This could be due to errors or omissions in the financial statements.

The Difference Between What Is Reported in the Client Prepared