Question: Dolman, CPA, is developing the preliminary materiality number to be used in the audit of Abacus, Inc., a nonissuer. Which of the following will Dolman

Dolman, CPA, is developing the preliminary materiality number to be used in the audit of Abacus, Inc., a nonissuer.
Which of the following will Dolman most likely use in developing this number?
Trend analysis of revenues and expenses over the past five years.
The results obtained from performing substantive tests of details.
Client budgets and interim financial statements.
The higher of 5% of net income or 1% of total assets.
Dolman, CPA, is developing the preliminary materiality number to be used

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