Question 1
When allocating performance materiality,
◦ it is easy to predict in advance which accounts are most likely to be misstated.
◦ only overstatements need to be considered.
◦ professional judgment is critical.
◦ the sum of all the performance materiality levels cannot exceed the preliminary judgment about materiality.
Question 2
Which of the following are major difficulties auditors face when allocating materiality to balance sheet accounts?
◦
Certain accounts contain
more misstatements
than others. | Only overstatements
need be considered. | Audit costs can
affect allocation. |
| Yes | No | Yes |
◦
Certain accounts contain
more misstatements
than others. | Only overstatements
need be considered. | Audit costs can
affect allocation. |
| Yes | Yes | No |
◦
Certain accounts contain
more misstatements
than others. | Only overstatements
need be considered. | Audit costs can
affect allocation. |
| Yes | Yes | Yes |
◦
Certain accounts contain
more misstatements
than others. | Only overstatements
need be considered. | Audit costs can
affect allocation. |
| No | Yes | No |
Major psychosocial changes during pregnancy
Women who reported one, two, or three or more major life events in the past 5 years were ...
(C) Locations of the major veins.
Prone position. Placement of bolsters under ankles and shoulders, head supported by face cradle.
Major Food Sources of Saturated and Trans Fats for Americans