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Which of the following statements about materiality is not correct? Multiple Choice A...

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Accounting

Which of the following statements about materiality is not correct?
Multiple Choice
A traditional guideline for auditors is 5 to 10 percent of net earnings.
An item is material if its inclusion or omission would influence or change the judgement of a reasonable person.
The amount involved must make a difference or it should not be disclosed.
Materiality is a matter of both its nature and relative size.

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