Distinguish between the terms tolerable misstatement and preliminary judgment about materiality. How are they related to each
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
A preliminary judgment about materiality is set for the financia...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
Question Posted:
Students also viewed these Auditing questions
-
Distinguish between the terms performance materiality and preliminary judgment about materiality. How are they related to each other?
-
What is meant by the terms tolerable misstatement and tolerable rate of error? How do they relate to materiality?
-
Distinguish between the terms sensitivity analysis and what-if analysis.
-
What is performance measurement?
-
Give an example of two diagonalizable matrices A and B whose sum A + B is not diagonalizable.
-
What collaboration IS can be used to support this process for the restaurant?
-
What is the main difference between environmental accounting and ecological accounting?
-
A financial consultant has an average of 7 customers he consults with each day, which are assumed to be Poisson distributed. The consultants overhead requires that he consult with at least 5...
-
A recent annual report for Celtic Air Lines included the following note: NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Maintenance Costs We record maintenance costs related to our fleet in...
-
A zoologist collected wild lizards in the Southwestern United States. Thirty lizards from the genus Phrynosoma were placed on a treadmill and their speed measured. The recorded speed (meters/second)...
-
Assume that Rosanne Madden, CPA, is using 5% of net income before taxes, current assets, or current liabilities as her major guidelines for evaluating materiality. What qualitative factors should she...
-
Assume a company with the following balance sheet accounts: You are concerned only about overstatements of owner's equity. Set tolerable misstatement for the three relevant accounts such that the...
-
Draw the Feynman diagrams at tree-level for the elastic scattering v e e - . What is different in v e e ?
-
A small rock is thrown vertically upward with a speed of 29.0 m/s from the edge of the roof of a 25.0-m-tall building. The rock doesn't hit the building on its way back down and lands in the street...
-
A gray kangaroo can bound across level ground, with each jump carrying it 9.4 m from the takeoff point. Typically, the kangaroo leaves the ground at a 25-degree angle. If this is so: A) What is its...
-
Simplify -3125x2 completely. Write answer in radical form. Answer = Entry Tip: To enter an answer like 50/2, type 50*root(3)(x^2). Preview your a submitting! Question Help: Message instructor...
-
1. How does one physically decrease the impact force during a drop jump? 2. How would this reduction in force affect the landing? Explain. 3. Give an example of a sport where you would want: a. A...
-
Find and simplify f(x+h). Simplify your answer. f(x) = 7+3x
-
In 2021, Germany had the worlds second largest current account surplus of US$266 billion. Using this one piece of information, answer the following questions. a. Which was greater, the income Germans...
-
Before the 1973 oil embargo and subsequent increases in the price of crude oil, gasoline usage in the United States had grown at a seasonally adjusted rate of 0.57 percent per month, with a standard...
-
Explain why marketers should be concerned with the macroenvironmental factors in the tourist-generating country?
-
The audit staff have recently completed risk assessment procedures to gain an understanding of Chocolate from Heaven Inc.?s (CFHI) business and to identify risk factors relevant to the risk of...
-
This problem requires you to access CPA Canada Assurance Handbook and to review CAS 240The auditors responsibilities relating to fraud in an audit of financial statements. REQUIRED a. You have...
-
Moranda and Sills, LLP, has served for over 10 years as the auditor of the financial statements of Highland Credit Union. The firm is conducting its audit planning for the current fiscal year and is...
-
CB Winter Sports specializes in providing ski lessons to beginners. The company uses the allowance method to account for uncollectible accounts expense. CB Winter Sports experienced the following...
-
The market price of a share of common stock at the time of issuance was $17.00, while the market price of a preferred share of stock at the time of issuance was $26.50. The company paid $11.50 per...
-
On August 3 1 , 2 0 2 2 , Nolan and Lei, who file a joint return and live in Charleston, South Carolina, sell their personal residence, which they have owned and lived in for 1 0 years. The realized...
Study smarter with the SolutionInn App