An Auditor Encounters an Error and Decides Not to Suggest

question 69

Multiple Choice

An auditor encounters an error and decides not to suggest an adjustment. This is an example of:

• A) professional skepticism.
• B) professional judgment.
• C) materiality decision.
• D) Both b and c

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Definitions:

Southern Economy

Refers to the economic structure and practices of the Southern United States, historically based on agriculture and slave labor.

Congress

The primary legislative body of the United States, consisting of the Senate and the House of Representatives.

Emancipation

The act of freeing individuals from legal, social, or political restrictions; historically significant in the context of the abolition of slavery.

Southerners

Individuals from the southern part of a country, often referring to those from the southern United States.