What Is Performance Materiality

question 98

Multiple Choice

What is performance materiality?

• A)Amount or amounts set by the auditors at less than the materiality level for particular classes of transactions, account balances, or disclosures
• B)Information or misstatements that impact a user's decision-making process for a reason other than its magnitude
• C)Information or misstatements that exceed the magnitude of an auditor's preliminary materiality assessment, which is a percentage of an appropriate benchmark
• D)None of these options are correct.

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Definitions:

Methcathinone

A synthetic stimulant similar to methamphetamine, known to have a high potential for abuse and addiction.

Amphetamine

A potent central nervous system stimulant used legally in medical settings and illicitly for its euphoric effects.

Central Nervous System

The main part of the nervous system, consisting of the brain and the spinal cord, which is responsible for processing information and controlling bodily functions.

Anorexia Nervosa

An eating disorder characterized by an intense fear of gaining weight and a distorted body image, leading to severe food restriction.