Auditors Should Consider Only Quantitative Effects and Not Qualitative Effects

question 52

True/False

Auditors should consider only quantitative effects and not qualitative effects in making materiality judgments.

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Definitions:

Premises

Buildings and land owned or occupied by a person or organization.

Formal operational thinking

A stage in Jean Piaget's theory of cognitive development, starting around age 12, where individuals gain the ability to think abstractly and logically.

Concrete operational thinking

A stage in cognitive development where children gain the ability to think logically about concrete events.

Systematically solve problems

Employing a methodical and organized approach to identifying solutions to issues.