What distinguishes accounting tolerance analysisfrom materiality thresholds?(I) Both concepts mean exactly the same thing(II) Tolerance permits specific variances whilemateriality addresses significance(III) Tolerance applies only to manufacturing(IV) Materiality deals only with errors

Explanation of Accounting Tolerance Analysis:Accounting tolerance analysis involves defining…

Answered: What distinguishes accounting tolerance…

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter14: Auditing It Controls Part I: Sarbanes-oxley And It Governance

Section: Chapter Questions

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What distinguishes accounting tolerance analysis from materiality thresholds? (I) Both concepts mean exactly the same thing (II) Tolerance permits specific variances while materiality addresses significance (III) Tolerance applies only to manufacturing (IV) Materiality deals only with errors