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Evaluating misstatements when using sampling to test account balances Explain the term "misstatement" as it applies to sampling during substantive procedures and explain how the term may be interpreted differently by different auditors.
Costs And Benefits
This is an analysis approach that compares the potential outcomes and implications, in terms of costs and benefits, of an action or decision.
Marginal Social Benefit
The extra advantage to society that comes from using an additional unit of a product or service.
Marginal Social Cost
The total cost to society of producing one additional unit of a good, including both private costs and externalities.
Pollution
The presence in or introduction into the environment of substances or things that have harmful or poisonous effects.
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