22) Regardless of how the allocation of the preliminary judgement about materiality was done, when the audit is complete, the auditor must be confident that the combined errors in all accounts are: A) less than the preliminary judgement. C) less than or equal to the preliminary judgement. B) more than the preliminary judgement. D) equal to the preliminary judgement. 23) Suppose an auditor calculates an estimate of the errors by direct projection from the sample to the population. If the auditor finds $15 000 of net overstatement errors in a sample of $100 000 out of a total population of $500 000, the estimate of errors in the population will be: A) $75 000. B) $7 500. C) $750. D) $750 000. 24) When allocating materiality, most practitioners choose to allocate to: A) the income statement accounts because they are more important. B) both balance sheet and income statement accounts because there could be errors on either one. C) all of the financial statements because there could be errors on other statements besides the income statement and balance sheet. D) the balance sheet accounts because there are fewer of them. 25) Likely misstatements arise from: A) the auditor's estimate of misstatements. B) projections of misstatements based on the auditor's tests. C) projections of misstatements based on the auditor's preliminary assessment of materiality. D) differences between management's and the auditor's judgement about estimates of account balances.