The Primary Purpose of Allocating the Preliminary Judgement About Materiality

question 91

True/False

The primary purpose of allocating the preliminary judgement about materiality to financial statement accounts is to help the auditor decide the appropriate evidence to accumulate for each account.

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Definitions:

Monochronic Cultures

Cultures in which people tend to do one thing at a time.

Low-context Cultures

Cultures in which communication is direct, precise, and explicit, relying less on context and non-verbal cues to convey meaning.

Silent Language

Non-verbal forms of communication, such as body language, facial expressions, and gestures, that convey messages without the use of words.

Culture

A set of shared values, beliefs, norms, and practices that influences the way individuals in a group or organization interact.