Question: The risk that the auditors will conclude, based on substantive procedures, that a material misstatement does not exist in an account balance when, in fact,

The risk that the auditors will conclude, based on substantive procedures, that a material misstatement does not exist in an account balance when, in fact, such a misstatement does exist is referred to as:

Business risk.

Engagement risk.

Control risk.

Detection risk.

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