Which One of the Following Accounting Constraints Supports the Concept

question 90

Multiple Choice

Which one of the following accounting constraints supports the concept of audit sampling?

• A)Conservatism.
• B)Materiality.
• C)Cost-benefit.
• D)Industry practice.

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Definitions:

Error

A mistake or inaccuracy, which can occur in reasoning, perception, action, or judgment.

Judgment

The capability to reach reasoned decisions or sensible judgments.

Heuristic Thinking

A cognitive process that simplifies decision making by using practical methods or experiential rules of thumb, often at the cost of accuracy or thoroughness.

Elimination by Aspect Heuristic

A decision-making process where alternatives are discarded by systematically evaluating them against a set of criteria.