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Accounting MCQs
Auditing Mcqs
Q
Which of the following statements is not correct about materiality?
AA. Materiality is a relative concept
BB. Materiality judgments involve both quantitative and qualitative judgments
CC. Auditorβs consideration of materiality is influenced by the auditorβs perception of the needs of an informed decision maker who will rely on the financial statements
DD. At the planning state, the auditor considers materiality at the financial statement level only
Correct Answer:
D. D. At the planning state, the auditor considers materiality at the financial statement level only
