Which of the Following Is a Correct Statement Regarding Performance

question 108

Multiple Choice

Which of the following is a correct statement regarding performance materiality?

• A) Determining performance materiality is necessary because auditors accumulate evidence by segments.
• B) The level of performance materiality does not affect the amount of evidence needed.
• C) Performance materiality cannot vary for different classes of transactions.
• D) Performance materiality is required for public companies, but not for private companies.