Misstatements Are Usually Considered Material If

Multiple Choice

Misstatements are usually considered material if:

A) the combined uncorrected errors in the financial statements are likely to have changed or influenced the decisions of a reasonable person using the financial statements.
B) the auditor has quantified a measure of materiality.
C) the combined uncorrected errors and fraud in the financial statements are likely to have changed or influenced the decisions of a reasonable person using the financial statements.
D) none of the above