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MULTIPLE CHOICE QUESTION: Which of the following statements concerning the audit risk model is false? a.It is used to determine the planned level of substantive

MULTIPLE CHOICE QUESTION:

Which of the following statements concerning the audit risk model is false?

a.It is used to determine the planned level of substantive audit testing to be performed in the audit.

b.It is applied at both the financial statement and individual account and financial statement assertion levels.

c.It is useful as a planning tool at the beginning of the audit.

d.It allows the auditor to accurately quantify the level of audit risk.

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