Intentional Misstatement of Estimates

question 104

Multiple Choice

Intentional misstatement of estimates

• A)are highly unusual in financial reporting.
• B)do not have any impact on earnings.
• C)are unlikely to draw attention from the external auditor if they fall within acceptable ranges.
• D)are acceptable under GAAP.

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Definitions:

Portfolio

A portfolio is a collection of materials or documents that evidence an individual's abilities, achievements, or progress over time.

Informal Assessment Techniques

Non-standardized methods of evaluating a student's performance or progress, usually more flexible and adaptive than formal assessments.

Practicality

The extent to which something can be applied or used in a real-world setting.

Painstakingly

With great care and thoroughness, paying close attention to every detail.