Which of the Following Statements Is Not Correct About Materiality

Multiple Choice

Which of the following statements is not correct about materiality?

A) Performance materiality is an estimate of materiality set lower than the estimate of materiality for the financial statements as a whole.
B) Materiality involves both quantitative and qualitative judgements.
C) Auditor's consideration of materiality is influenced by the auditor's perception of the needs of an informed decision maker who will rely on the financial statements.
D) At the planning state, the auditor considers materiality at the financial statement level only.