Essay
Indicate an appropriate base amount that could be used in determining materiality for the following items:
1.accounts receivable
2.inventory
3.accounts payable
4.wages expense
5.cash inflow from the sales of property, plant and equipment
6.cash outflow from borrowing redemption
7.asset revaluation reserve
8.cash
9.interest revenue
10. cash outflow from employee expenses
Correct Answer:

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1.total assets
2.total assets
3.total li...View Answer
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Correct Answer:
Verified
2.total assets
3.total li...
View Answer
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Q1: In making judgements about materiality at the
Q2: The auditor shall obtain sufficient appropriate audit
Q3: All else being equal, as the level
Q4: Which of these would generally be considered
Q6: The presentation and disclosure assertion often includes
Q7: The statement that is most accurate about
Q8: Which of these would not be considered
Q9: Which of these is not a substantive
Q10: In general, as an account balance decreases,
Q11: An auditor has obtained an understanding of