When an error is occurred in transaction area or account section that error is called misstatement. Requirement 1 Define the misstatement.

Question

Which of the following is the maximum misstatement that can exist in an account before it is considered materially misstated? Select answer from the options below Anticipated misstatement Projected misstatement Upper misstatement limit Tolerable misstatement

Answer 1

Question

Chapter 8, Problem 18RQSC

To determine

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

To determine

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

To determine

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

To determine

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

To determine

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.

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Which of the following is the maximum misstatement that can exist in an account before it is considered materially misstated? Select answer from the options below Anticipated misstatement Projected misstatement Upper misstatement limit Tolerable misstatement

What is Projected Misstatement?

Define risk of material misstatement.

Answer 2

Question

Chapter 8, Problem 18RQSC

To determine

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

To determine

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

To determine

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

To determine

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

To determine

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.

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Answer 3

Question

Chapter 8, Problem 18RQSC

To determine

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

To determine

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

To determine

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

To determine

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

To determine

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.

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Answer 4

Question

Chapter 8, Problem 18RQSC

To determine

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

To determine

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

To determine

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

To determine

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

To determine

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.

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Answer 5

Chapter 8, Problem 18RQSC

To determine

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

To determine

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

To determine

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

To determine

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

To determine

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.

Answer 6

Chapter 8, Problem 18RQSC

To determine

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

Answer 7

Chapter 8, Problem 18RQSC

To determine

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

Answer 8

To determine

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

Answer 9

To determine

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

Answer 10

To determine

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

Answer 11

To determine

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

Answer 12

To determine

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

Answer 13

To determine

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

Answer 14

To determine

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.

Answer 15

To determine

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.

Answer 16

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Answer 27

Ch. 8 - Prob. 1CYBK Ch. 8 - Prob. 2CYBK Ch. 8 - Prob. 3CYBK Ch. 8 - Prob. 4CYBK Ch. 8 - Prob. 5CYBK Ch. 8 - Prob. 6CYBK Ch. 8 - Prob. 7CYBK Ch. 8 - Prob. 8CYBK Ch. 8 - Prob. 9CYBK Ch. 8 - Prob. 10CYBK

When an error is occurred in transaction area or account section that error is called misstatement. Requirement 1 Define the misstatement.

Concept explainers

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.

Chapter 8 Solutions

When an error is occurred in transaction area or account section that error is called misstatement. Requirement 1 Define the misstatement.

Concept explainers

Introduction:When an error is occurred in transaction area or account section that error is called misstatement. Requirement 1 Define the misstatement.

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this. Requirement 2 Define the factual misstatement.

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement. Requirement 3 Define the projected misstatement.

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement. Requirement 4 Define the tolerable misstatement.

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population. Requirement 5 Define the expected misstatement.

Chapter 8 Solutions

Introduction:When an error is occurred in transaction area or account section that error is called misstatement.

Requirement 1

Define the misstatement.

Introduction:The factual misstatement is that type of error which is recognized by the auditor. There is no doubt in this.

Requirement 2

Define the factual misstatement.

Introduction:When the misstatement is depending on the total samples chosen by the auditor that type of misstatement is called projected misstatement.

Requirement 3

Define the projected misstatement.

Introduction:When the limit of the misstatement is decided by the auditor to control the errors that type of misstatement is tolerable misstatement.

Requirement 4

Define the tolerable misstatement.

Introduction:The expected misstatement is decided by the auditor to compare from the previous results and projected on the total population.

Requirement 5

Define the expected misstatement.