During the Course of an Audit,immaterial Misstatements May Be Detected

question 72

Multiple Choice

During the course of an audit,immaterial misstatements may be detected.The auditor should do which of the following?

• A)permanently pass on these immaterial misstatements as they do not individually impact the financial statements.
• B)request that management footnote the immaterial misstatements in the financial statements for fair presentation.
• C)accumulate all of the known and projected misstatements to determine if the impact is material in the aggregate.
• D)roll them forward for three years when they will become material enough to adjust.

---

Definitions:

ADHD

Attention-Deficit/Hyperactivity Disorder, a neurodevelopmental disorder characterized by inattention, hyperactivity, and impulsivity.

Prevalence Rate

The proportion of a population found to have a condition at a given time, often used in epidemiological studies to understand how widespread a disease or condition is.

General Population

The total group of individuals in a specific area or from which a statistical sample is drawn.

ADHD

Attention-Deficit/Hyperactivity Disorder, a neurodevelopmental disorder affecting both children and adults characterized by symptoms of inattention, hyperactivity, and impulsivity.