Which of the Following Statements Best Describe a Misstatement

question 10

Multiple Choice

Which of the following statements best describe a misstatement?

• A)a misstatement is either an error (an unintentional mistake)or fraud (an intentional mistake)in the audit report
• B)some misstatements are material and some are too small to be material
• C)when a statement is material,an outsider would change his decision regarding the audit if he knew about the misstatement
• D)some misstatements are neither material nor immaterial

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Definitions:

Enroll

To enroll is to register or sign up for a course, program, or institution, officially becoming a member or participant.

Fraternities

Social organizations primarily associated with universities or colleges, typically male-only, and known for community, support, and sometimes secretive activities.

Date Rape

A form of sexual assault where the victim is attacked by someone they know in a social setting.

Miscommunication

A failure to convey or understand a message correctly, leading to misunderstandings or errors.