Acct 555 Week 4 Homework - Lisa Maugans Acct 555 Week 4 Homework MULTIPLE CHOICE QUESTIONS FROM CPA EXAMINATIONS 9-22(Objectives 9-1 9-2 The following

Acct 555 Week 4 Homework - Lisa Maugans Acct 555 Week 4...

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Lisa Maugans Acct 555 Week 4 Homework January 24, 2016 MULTIPLE CHOICE QUESTIONS FROM CPA EXAMINATIONS 9-22 (Objectives 9-1, 9-2)The following questions deal with materiality.Choose the best response.a.Which one of the following statements is correct concerning the concept of materiality? (1)Materiality is determined by reference to guidelines established by the AICPA.(2)Materiality depends only on the dollar amount of an item relativeto other items in the financial statements.(3)Materiality depends on the nature of an item rather than the dollar amount.X(4)Materiality is a matter of professional judgment. b.Which of the following is notcorrect about materiality? 1
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Lisa Maugans Acct 555 Week 4 Homework January 24, 2016
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