The auditor performs a statistical test of inventory and has done enough work such that the upper

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The auditor performs a statistical test of inventory and has done enough work such that the upper misstatement limit and most likely misstatement are determined. When determining whether or not the account has material misstatements, does the auditor consider (a) the known errors or (b) the most likely errors-even though the amount is not precisely known?
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Auditing A Business Risk Approach

ISBN: 978-0538476232

8th edition

Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg

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