Homework Help is Here – Start Your Trial Now!
Business
Accounting
The ASA C0. has assets total of 100 000 million TL, profit before tax of 1 500 millionTL, annual revenue of 50 000 million TL. for the year 2020, These annual values are stable for the last 3 years. The audit has been assessed as a high risk audit. What would be the most reasonable Beginning materiality for ASA C0. audit?  A. 10 million TL B. 500 000 TL C. 50 million TL D. 1 million TL

The ASA C0. has assets total of 100 000 million TL, profit before tax of 1 500 millionTL, annual revenue of 50 000 million TL. for the year 2020, These annual values are stable for the last 3 years. The audit has been assessed as a high risk audit. What would be the most reasonable Beginning materiality for ASA C0. audit?  A. 10 million TL B. 500 000 TL C. 50 million TL D. 1 million TL

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

The ASA C0. has assets total of 100 000 million TL, profit before tax of 1 500 millionTL, annual revenue of 50 000 million TL. for the year 2020, These annual values are stable for the last 3 years. The audit has been assessed as a high risk audit. What would be the most reasonable Beginning materiality for ASA C0. audit? 

A.

10 million TL

B.

500 000 TL

C.

50 million TL

D.

1 million TL

Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Federal Law, Integrated, Performance and Other Audits
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS