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Author Question: Which of the following statements isnotcorrect? (Read 56 times)

trevg

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on: Aug 21, 2022

Question 1

Which of the following is the primary basis used to decide materiality for a profit-oriented entity?
◦ net sales
◦ net assets
◦ net income before tax
◦ All of these

Question 2

Which of the following statements is not correct?
◦ Materiality is a relative rather than an absolute concept.
◦ The most important base used as the criterion for deciding materiality is total assets.
◦ Qualitative factors as well as quantitative factors affect materiality.
◦ Given equal dollar amounts, frauds are usually considered more important than errors.
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Marked as best answer by trevg on Aug 21, 2022

kugyo01

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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trevg

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Reply 2 on: Aug 21, 2022
Thanks for the timely response, appreciate it

xiaomengxian

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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