If the Total Projected Error in an Account Balance Was

question 21

Multiple Choice

If the total projected error in an account balance was $3 248 and the tolerable error was set at $10 000,the auditor would:

• A)decide that further audit work was required
• B)conclude that the errors detected are not material
• C)conclude that the errors uncovered are material
• D)conduct other tests aimed at the assertion being tested

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Definitions:

Elaboration Likelihood Model

A theory in social psychology that describes the process by which attitudes are formed and changed through different routes of information processing, based on the individual's motivation and ability to elaborate on a persuasive message.

Personal Relevance

The degree to which information or experiences are directly applicable or meaningful to an individual, affecting their level of interest or engagement.

Elaboration Likelihood Model

A psychological concept that outlines how individuals process persuasive information, either deeply or superficially, affecting attitude change.

Attitude Change

A shift in an individual's feelings, beliefs, or position on a topic due to various influencers, such as new information or social pressure.