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Bonnie Inc.: If the acceptable level of audit risk is set at 2%, the inherent risk for a particular assertion is assessed at 90%,
Bonnie Inc.: If the acceptable level of audit risk is set at 2%, the inherent risk for a particular assertion is assessed at 90%, and the control risk for a particular assertion is assessed at 65%, what should be the detection risk? Enter your answer in the box below as a percentage rounded to two decimal places but do not insert the "%" sign. Example: If your answer is 12.34%, enter 12.34. Do not enter 12.34%, 12, 12.3, 12.340, 12.343333.
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To calculate the detection risk we can use the following formula Detection Risk Ac...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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