If the auditor concludes the allowance for doubtful accounts should be between $130,000 and $160,000 and managements
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If the auditor concludes the allowance for doubtful accounts should be between $130,000 and $160,000 and management’s recorded amount is $110,000, what amount would be treated as a misstatement?
a. $50,000 (the maximum difference).
b. $0 (no misstatement; after all, it is an estimate).
c. $20,000 (the minimum difference).
d. $35,000 (the mid-range of $145,000 less $110,000).
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Related Book For
Auditing An International Approach
ISBN: 978-1259087462
7th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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