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Qualitative Factors Can Affect an Auditor's Assessment of Materiality

question 105

Multiple Choice

Qualitative factors can affect an auditor's assessment of materiality.Which of the following statements is true?
I.Misstatements that are otherwise immaterial may be material if they affect earnings trends.
II.Misstatements that are otherwise minor may be material if there are possible consequences arising from contractual obligations.


Definitions:

Priority Diagnoses

Identifying the most critical and immediate health issues that require urgent attention and intervention for a patient.

Subjective Data

Information from the patient's point of view without verification, including feelings, perceptions, and concerns.

Patient's Expression

The verbal or non-verbal communication by which a patient conveys their feelings, needs, or symptoms.

Upcoming Surgery

A planned medical operation that is scheduled to take place in the near future.

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