Tolerable Misstatement Is

question 62

Multiple Choice

Tolerable misstatement is

• A)a matter of professional judgment
• B)the amount of misstatement,on the basis of the auditor's professional judgment,that should be present in the account balance or class of transactions
• C)the maximum misstatement in the account balance or class of transactions that the auditor is willing to accept
• D)the level of audit risk the auditor is willing to accept
• E)both A and C
• F)both B and D
• G)both D and E

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Definitions:

Technological Change

Innovations in the way goods or services are produced, delivered, or utilized, often leading to efficiency gains or new capabilities.

Absenteeism

Refers to the consistent absence of an employee from their job without a valid reason, which can impact productivity and morale.

Team Viability

Refers to a team’s capacity for sustained success and maintaining effective performance over time.

Member Satisfaction

The degree to which the expectations and needs of a member of a group or organization are fulfilled.