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If results from the tests of controls show the internal controls are effective at preventing and/or and overall detecting material misstatements, auditors will conclude that control risk is risk of material misstatement (RMM) is O high; high O low; high low; low O high; low

If results from the tests of controls show the internal controls are effective at preventing and/or and overall detecting material misstatements, auditors will conclude that control risk is risk of material misstatement (RMM) is O high; high O low; high low; low O high; low

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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If results from the tests of controls show the internal controls are effective at preventing and/or and overall detecting material misstatements, auditors will conclude that control risk is risk of material misstatement (RMM) is O high; high O low; high low; low O high; low
Transcribed Image Text:If results from the tests of controls show the internal controls are effective at preventing and/or and overall detecting material misstatements, auditors will conclude that control risk is risk of material misstatement (RMM) is O high; high O low; high low; low O high; low
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