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Author Question: The dollar amount of some misstatements cannot be accurately measured. For example, if the client ... (Read 46 times)

frosh101

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on: Aug 21, 2022

Question 1

Misstatements must be compared with some measurement base before a decision can be made about materiality. A commonly accepted measurement base includes
◦ net income.
◦ total assets.
◦ working capital.
◦ All of these.

Question 2

The dollar amount of some misstatements cannot be accurately measured. For example, if the client were unwilling to disclose an existing lawsuit, the auditor must estimate the likely effect on
◦ net income.
◦ users of the financial statements.
◦ the auditor's exposure to lawsuits.
◦ management's future decisions.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by frosh101 on Aug 21, 2022

mllong

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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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frosh101

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

skipfourms123

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

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