The Purpose of Allocating Planning Materiality to Balance Sheet Accounts

question 8

Multiple Choice

The purpose of allocating planning materiality to balance sheet accounts is to

• A)assess the appropriate evidence to accumulate for each account on the balance sheet.
• B)assess the appropriate evidence to accumulate for each account on both the balance sheet and income statement.
• C)reduce the amount of procedures done in the course of the audit.
• D)increase the possibility that fraud or illegal activities would be detected by audit procedures.

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Definitions:

Laughing

A physical response to stimuli that is considered humorous or relieving, often resulting in vocal sounds and slight body movements.

Touching

The act of coming into physical contact with something or someone, often conveying emotion or facilitating interpersonal connection.

Unconditioned Response

A natural, automatic reaction to a stimulus that occurs without any learning or prior conditioning.

Laughing

A physiological response that expresses joy or amusement, often a spontaneous reaction to humor or happiness.