Question
What is a significant account or disclosure? a.An account or disclosure for which there is a reasonable possibility that the account or disclosure could contain
What is a significant account or disclosure?
a.An account or disclosure for which there is a reasonable possibility that the account or disclosure could contain a misstatement that, individually or when aggregated with others, has a material effect on the financial statements, considering the risks of both overstatement and understatement.
b.An account or disclosure for which there is a greater than remote possibility that the account or disclosure could contain a misstatement that, individually or when aggregated with others, has a material effect on the financial statements, considering the risks of both overstatement and understatement.
c.An account or disclosure for which there is a greater remote possibility that the account or disclosure could contain a misstatement that, individually or when aggregated with others, has a material effect on the financial statements, considering the risks of both overstatement and understatement.
d.An account or disclosure for which it is probable that the account or disclosure could contain a misstatement that, individually or when aggregated with others, has a material effect on the financial statements, considering the risks of both overstatement and understatement.
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Financial Accounting Information for Decisions
Authors: John J. Wild
9th edition
1259917045, 978-1259917042
