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James Monroe is planning an audit of Total Imports, Inc. He sets materiality at $1,000,000 and tolerable misstatement at $750,000 for all accounts. How will

James Monroe is planning an audit of Total Imports, Inc. He sets materiality at $1,000,000 and tolerable misstatement at $750,000 for all accounts. How will James Monroe use materiality to complete the audit?

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