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An auditor has determined a $ 1 0 million materiality level for a client s balance sheet and a $ 3 million materiality level for

An auditor has determined a $

10

million materiality level for a client

s balance sheet and a $

3

million materiality level for the client

s income statement. As a result, the auditor will consider items in the audit to be material if they individually or collectively could result in a misstatement of

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