If the upper limit on misstatement is less than or equal to the tolerable misstatement,the auditor would conclude that the account balance or class of transactions is fairly recorded.

Question

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If the upper limit on misstatement is less than or equal to the tolerable misstatement, it means that the auditor has determined that the account balance or class of transactions is within an acceptable range of accuracy. Therefore, the auditor can conclude that the financial statements fairly present the account balance or class of transactions.

If the Upper Limit on Misstatement Is Less Than or Equal