Which of the Following Statements About Materiality Is Not True

question 65

Multiple Choice

Which of the following statements about materiality is not true?

• A)Materiality is different for each company.
• B)A material error would change the opinion of the average prudent investor.
• C)Any error greater than $5,000 is considered material in a financial audit.
• D)Material misstatements should not exist in order for a company to receive an unqualified audit opinion.

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