Which of the Following Statements Regarding Judgemental Misstatements Is In

question 36

Multiple Choice

Which of the following statements regarding judgemental misstatements is in?

• A) They are the same as errors
• B) They can arise as a result of a difference in underlying assumptions by the client and the auditor
• C) They are not the same as errors
• D) They can arise as a result of a difference in the application of judgement by the client and the auditor

---

Definitions:

CPP Payable

Refers to the amount owed by companies or individuals for contributions to the Canada Pension Plan, a key component of Canada's public retirement system.

CPP Expense

Costs associated with the Canada Pension Plan contributions by an employer, representing a payroll expense.

Non-current Note

a long-term financial obligation or loan that is not due for repayment within the next year or operating cycle of the business.

Instalment Payments

Payments made towards the cost of a purchase over a period, allowing the buyer to pay off the total amount owed in smaller, periodic amounts.