A Misstatement in the Financial Statements Can Be Considered Material

question 68

Multiple Choice

A misstatement in the financial statements can be considered material if

• A)it overshadows the financial statements as a whole.
• B)knowledge of the misstatement would affect the decision of a reasonable user of the financial statements.
• C)it affects more than one account on the financial statements.
• D)it affects only one account on the financial statements.

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