Which measure of materiality (or both)considers quantitative considerations? $$\begin{array} { c }
&\text { Planning}&\text{ Evaluation}\
\text { A) } & \text { Yes } & \text { Yes } \
\text { B) } & \text { Yes } & \text { No } \
\text { C) } & \text { No } & \text { Yes } \
\text { D) } & \text { No } & \text { No }
\end{array}$$
A)Option A
B)Option B
C)Option C
D)Option D

Question

Which measure of materiality (or both)considers quantitative considerations? $$\begin{array} { c } 
&\text { Planning}&\text{ Evaluation}\
\text { A) } & \text { Yes } & \text { Yes } \
\text { B) } & \text { Yes } & \text { No } \
\text { C) } & \text { No } & \text { Yes } \
\text { D) } & \text { No } & \text { No }
\end{array}$$
A)Option A
B)Option B
C)Option C
D)Option D

Quizplus · Accepted Answer

Both planning and evaluation phases consider quantitative considerations to determine materiality. In planning, auditors consider materiality to set the scope of the audit and design the nature, timing, and extent of audit procedures. In the evaluation, auditors use materiality to evaluate whether a misstatement or omission, individually or in aggregate, is material. Therefore, Option A is the correct answer.

Which Measure of Materiality (Or Both)considers Quantitative Considerations A)Option a B)Option B C)Option C D)Option D

Which Measure of Materiality (Or Both)considers Quantitative Considerations A)Option a
B)Option B
C)Option C
D)Option D