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Which of the following is false regarding materiality? A Auditors set a preliminary judgment about materiality to help plan the appropriate evidence to accumulate. B
Which of the following is false regarding materiality?
A | Auditors set a preliminary judgment about materiality to help plan the appropriate evidence to accumulate. | |
B | Materiality is subjective. | |
C | Misstatements that arise from differences between managements and the auditors judgment about estimates of account balances would be an example of a known misstatement. | |
D | Accounting and auditing standards do not provide specific materiality guidelines to practitioners. |
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