EBK AUDITING & ASSURANCE SERVICES: A SY
11th Edition
ISBN: 9781260687668
Author: Jr
Publisher: MCGRAW-HILL LEARNING SOLN.(CC)
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Question
Chapter 3, Problem 3.24MCQ
To determine
Concept Introduction:
A tolerable misstatement is the level or amount of a misstatement which can be ignored by the auditor. There is an opposite relation between the
To choose: The correct meaning of tolerable misstatement.
Expert Solution & Answer
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Check out a sample textbook solutionStudents have asked these similar questions
In a financial statement audit, inherent risk represents
a. The risk that misstatements could occur and not be detected by the auditor's procedures.
b. The risk that misstatements could occur and not be prevented or detected by the system of internal control.
c. The risk that the auditor fails to modify materially misstated financial statements.
d. The susceptibility of an account balance to misstatement that could be material.
When auditing the accounts receivable account on the balance sheet, an auditor’s procedures most likely would focus primarily on management’s assertion of
Select one:
a. Presentation and disclosure
b. Existence
c. Rights and obligations
d. Completeness.
When auditing the accounts payable balance on the balance sheet, an auditor’s procedures most likely would focus primarily on management’s assertion of
Select one:
a. Rights and obligations
b. Completeness.
c. Existence
d. Presentation and disclosure
Chapter 3 Solutions
EBK AUDITING & ASSURANCE SERVICES: A SY
Ch. 3 - Prob. 3.1RQCh. 3 - Prob. 3.2RQCh. 3 - Prob. 3.3RQCh. 3 - Prob. 3.4RQCh. 3 - Prob. 3.5RQCh. 3 - Prob. 3.6RQCh. 3 - Prob. 3.7RQCh. 3 - Prob. 3.8RQCh. 3 - Prob. 3.9RQCh. 3 - Prob. 3.10RQ
Ch. 3 - Prob. 3.11RQCh. 3 - Prob. 3.12RQCh. 3 - Prob. 3.13RQCh. 3 - Prob. 3.14RQCh. 3 - Prob. 3.15RQCh. 3 - Prob. 3.16MCQCh. 3 - Prob. 3.17MCQCh. 3 - Prob. 3.18MCQCh. 3 - Prob. 3.19MCQCh. 3 - Prob. 3.20MCQCh. 3 - Prob. 3.21MCQCh. 3 - Prob. 3.22MCQCh. 3 - Prob. 3.23MCQCh. 3 - Prob. 3.24MCQCh. 3 - Prob. 3.25MCQCh. 3 - Prob. 3.26PCh. 3 - Prob. 3.27PCh. 3 - Prob. 3.28PCh. 3 - Prob. 3.29PCh. 3 - Prob. 3.30PCh. 3 - Prob. 3.31PCh. 3 - Prob. 3.32P
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