ACC 403 FINAL EXAM PART 1
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ACC 403 FINAL EXAM PART 1 1
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Question 1
When taken together, the concepts of risk and materiality in auditing:
Answer
measure the uncertainty of amounts of a given magnitude.
measure uncertainty only.
measure magnitude only.
measure inherent risk.
Question 2 
Auditing standards ________ that the basis used to determine the preliminary judgment about materiality be documented in the audit files.
Answer
Permit
do not allow
require 
strongly encourage
Question 3
Auditors are ________ to document the known and likely misstateme...
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ACC 403 FINAL EXAM PART 1•ACC 403 FINAL EXAM PART 1
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Question 1
When taken together, the concepts of risk and materiality in auditing:
Answer
measure the uncertainty of amounts of a given magnitude.
measure uncertainty only.
measure magnitude only.
measure inherent risk.
Question 2 
Auditing standards ________ that the basis used to determine the preliminary judgment about materiality be documented in the audit files.
Answer
Permit
do not allow
require 
strongly encourage
Question 3
Auditors are ________ to document the known and likely misstateme...