Which of the following statements is false in relation to materiality? A. Materiality can...
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Accounting
- Which of the following statements is false in relation to materiality?
A. Materiality can be assessed by size or nature
B. A balance which is omitted from the financial statements cannot be material to the
financial statement.
C. Materiality is a matter of professional judgment for the auditor
D. There is an inverse relationship between risk and materiality. If the audit risk is high,
the materiality level set by the auditor will be lower.
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