Question 1
Auditing standards ________ that the basis used to determine the preliminary judgment about materiality be documented in the audit files.
◦ permit
◦ do not allow
◦ require
◦ strongly encourage
Question 2
Certain types of misstatements are likely to be more important than other types to users, even if the dollar amounts are the same. Which of the following demonstrates this?
◦
Amounts involving frauds are considered more important than
errors of equal amount. | Misstatements that are otherwise immaterial may be material if they affect a trend in earnings. |
| Yes | Yes |
◦
Amounts involving frauds are considered more important than
errors of equal amount. | Misstatements that are otherwise immaterial may be material if they affect a trend in earnings. |
| No | No |
◦
Amounts involving frauds are considered more important than
errors of equal amount. | Misstatements that are otherwise immaterial may be material if they affect a trend in earnings. |
| Yes | No |
◦
Amounts involving frauds are considered more important than
errors of equal amount. | Misstatements that are otherwise immaterial may be material if they affect a trend in earnings. |
| No | Yes |
Examples of structures in which extensive surface area is important for function.
The different types of competition in nature.
Different types of stems
Various types of bandages.
Various types of integumentary conditions. (G) Burn, second degree.
Types of wind deposits