In performing variables sampling,the auditor will conclude that the account balance is not materially misstated if the ____ is less than or equal to ____.
A)Upper limit on misstatement; tolerable misstatement.
B)Expected error; tolerable misstatement.
C)Tolerable misstatement; upper limit on misstatement.
D)Tolerable misstatement; expected error.

Question

Quizplus · Accepted Answer

The auditor concludes that the account balance is not materially misstated if the upper limit on misstatement is less than or equal to the tolerable misstatement. This indicates that the potential misstatement is within acceptable limits.

In Performing Variables Sampling,the Auditor Will Conclude That the Account