Which of the Following Statements Is Usually True

question 97

Multiple Choice

Which of the following statements is usually True?

• A)Materiality is easy to quantify.
• B)Fraudulent financial statements are often easy for the auditor to detect,especially when there is collusion among management.
• C)Reasonable assurance is a low level of assurance that the financial statements are free from material misstatement.
• D)An item is considered material if it would likely have changed or influenced the decisions of a reasonable person using the statements.

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Definitions:

Worldwide Recognition

is the state of being known, respected, or acknowledged on a global scale.

Getting Funded

The process by which a business secures financial investment to start, operate, or expand its operations.

Spelling Mistakes

Errors made in the process of writing words, involving incorrect letter arrangement or selection.

Successful Projects

Projects that meet or exceed their objectives and criteria for success, often through effective planning and execution.