If the _______ is less than the _______, the audit team would conclude that the account balance is fairly stated.a. Projected misstatement; tolerable misstatement.b. Tolerable misstatement; projected misstatement.c. Upper limit on misstatements; tolerable misstatement.d. Tolerable misstatement; upper limit on misstatements.
If the _______ is less than the _______, the audit team would conclude that the account balance is fairly stated.a. Projected misstatement; tolerable misstatement.b. Tolerable misstatement; projected misstatement.c. Upper limit on misstatements; tolerable misstatement.d. Tolerable misstatement; upper limit on misstatements.
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
Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools
Section: Chapter Questions
Problem 18RQSC
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If the _______ is less than the _______, the audit team would conclude that the account balance is fairly stated.
a. Projected misstatement; tolerable misstatement.
b. Tolerable misstatement; projected misstatement.
c. Upper limit on misstatements; tolerable misstatement.
d. Tolerable misstatement; upper limit on misstatements.
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