The maximum amount by which the account balance or class of transactions can be misstated without influencing the decisions of third-party users is the
A) Tolerable misstatement.
B) Expected error.
C) Audited value.
D) True error.

Question

Quizplus · Accepted Answer

Tolerable misstatement is the maximum amount by which the account balance or class of transactions can be misstated without influencing the decisions of third-party users.

The Maximum Amount by Which the Account Balance or Class