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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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