The concept of materiality as it applies to a financial statement audit
A) Relates primarily to the audit fees involved.
B) Generally involves less professional judgment for public companies.
C) Is determined, in part, based on how financial statement users may be influenced in making decisions.
D) Relates primarily to the quantity of audit procedures performed.
Answer: C) Is determined, in part, based on how financial statement users may be influenced in making decisions.
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The text of a proposal
A) must always follow the AIDA plan. B) is usually presented in outline form. C) consists of the introduction, body, and close. D) should be italicized. E) is always organized using the direct approach.
References to appendices should be informative rather than _______________
a. cryptic b. interrogative c. expositional d. indirect