2 When describing “Materiality” the concept refers to Select one: a. the tangible nature of an item. b. representational faithfulness. c. the decision-making relevance of a piece of information. d. None of these describe materiality.

2 When describing “Materiality” the concept refers to Select one: a. the tangible nature of an item. b. representational faithfulness. c. the decision-making relevance of a piece of information. d. None of these describe materiality.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process

Section: Chapter Questions

Problem 19CYBK

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Question

When describing “Materiality” the concept refers to

Select one:

a. the tangible nature of an item.

b. representational faithfulness.

c. the decision-making relevance of a piece of information.

d. None of these describe materiality.

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