RaviRavi Staff asked 9 months ago
1 Answers
RaviRavi Staff answered 9 months ago

320. Risk of material misstatement at transaction and account balance level will depends on:
a) Complexity of transaction
b) Integrity of management.
c) Nature of Entity business.
d) Unusual pressure on management.
Answer: c) Nature of Entity business.
MCQ revised for better understanding:
Risk of material misstatement  At transaction and account balance  level will not depend on:
a)Judgement in valuation
b)Complexity of Transaction
c)Nature of Entity business
d)Unusual Transaction.
Answer:c)Nature of Entity business

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