Which of the following is not a benefit claimed for the practice of determining materiality inthe initial planning stage of an audit?a. Being able to fine-tune the audit work for effectiveness and efficiency.b. Avoiding the problem of doing more work than necessary (overauditing).c. Being able to decide early what type of audit opinion to issue.d. Avoiding the problem of doing too little work (underauditing).
Which of the following is not a benefit claimed for the practice of determining materiality inthe initial planning stage of an audit?a. Being able to fine-tune the audit work for effectiveness and efficiency.b. Avoiding the problem of doing more work than necessary (overauditing).c. Being able to decide early what type of audit opinion to issue.d. Avoiding the problem of doing too little work (underauditing).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is not a benefit claimed for the practice of determining materiality in
the initial planning stage of an audit?
a. Being able to fine-tune the audit work for effectiveness and efficiency.
b. Avoiding the problem of doing more work than necessary (overauditing).
c. Being able to decide early what type of audit opinion to issue.
d. Avoiding the problem of doing too little work (underauditing).
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