Multiple Choice
An error or omission is considered to be material if:
A) The act was intentional.
B) The results would have affected the judgment of a reasonable user.
C) The act was unintentional.
D) The omission was more than $100,000.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q18: Auditors may be employed to audit:<br>A) Part
Q19: What does the model ADR = AAR/(IR
Q20: Which of the following is not a
Q21: The auditor's objective is to determine whether
Q22: A segment for the allocation of a
Q24: What is materiality and why is it
Q25: A tolerable misstatement is:<br>A) A percentage threshold,
Q26: Auditing is the process of:<br>A) Developing internal
Q27: Beyond publishing findings of internal controls, fraud
Q28: Why might an auditor use sampling?<br>A) Because