Which of the following statements is true with respect to estimation uncertainty? a. It is an accounting

Question:

Which of the following statements is true with respect to estimation uncertainty?

a. It is an accounting concept relating to precision and so it has no impact on an audit.

b. Complexity, subjectivity, and uncertainty impact estimation uncertainty.

c. All accounting estimates are high in estimation uncertainty.

d. Estimation uncertainty is not considered when determining the audit effort with respect to accounting estimates.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Auditing A Practical Approach

ISBN: 9781119709497

4th Canadian Edition

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren

Question Posted: