346. Identify the incorrect one:
a) SA 320 permits revision of materiality.
b) SA 320 does not permit revision of materiality.
c) As per SA 320 materiality once decided can be revised
d) None of the above
 
Answer : b) SA 320 does not permit revision of materiality.
 
Revised MCQ for better understanding
Identify the incorrect one:
a) SA 320 permits revision of materiality .
b) SA 320 does not permits revision of materiality .
c)As per SA 320 materiality initially decided can be revised
d)None of the above
Answer : b) SA 320 does not permits revision of materiality .