Question: In considering materiality for planning purposes, an auditor believes that misstatements aggregating $10,000 would have a material effect on an entitys income statement, but that

In considering materiality for planning purposes, an auditor believes that misstatements aggregating $10,000 would have a material effect on an entity’s income statement, but that misstatements would have to aggregate

$20,000 to materially affect the balance sheet. Ordinarily, it would be appropriate to design auditing procedures that would be expected to detect misstatements that aggregate

a. $10,000

b. $15,000

c. $20,000

d. $30,000

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