Materiality is set at $60,000 for CookC a large public company. CookC averages $20,000 transactions per month

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Materiality is set at $60,000 for CookC a large public company. CookC averages $20,000 transactions per month and $46,000 of these transactions are at or above the company's materiality standards. There have been no errors or irregularities noted by company management. Is the materiality level appropriately set for CookC? Explain the logic of your answer and thinking process.

Posted Date: Dec 13, 2021 10:31 PM

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Materiality is set at $60,000 for CookC a large public company. CookC averages $20,000 transactions per month

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Expert Answer:

In my opinion 60000 is not a fair value for materiality b... View the full answer

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