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PLEASE HELP ASAP WILL LIKE VERY VERY URGENT!!! You are performing an external audit on the financial statements of ABC Limited. The following is the
PLEASE HELP ASAP WILL LIKE VERY VERY URGENT!!!
You are performing an external audit on the financial statements of ABC Limited. The following is the income statement of ABC Limited: ABC Limited Income Statement For the Period Ending December 31, 2018 Revenue $ 6,200,000 Cost of Sales 3.000.000 Gross Margin 3.200.000 Expenses Wages 1,000,000 Administrative 300,000 Advertising 117.000 Office Supplies 48,000 Insurance 105.000 Total Expenses 1.570.000 Profit before Tax $ 1.630.000 If materiality is set at 9% of profit before tax, which balances in the above income statement would be considered material? O Revenue, Cost of Sales, Wages, Administrative Revenue, Advertising, Wages, Administrative O Insurance, Cost of Sales, Wages, Administrative Revenue, Cost of Sales, Wages, Office Supplies Step by Step Solution
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