Which statement best describes the summary of uncorrected misstatements (SUM) de minimis posting level? ...
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Accounting
Which statement best describes the summary of uncorrected misstatements SUM de minimis posting level?
A: Level determines magnitude of an omission or misstatement of accounting information that may influence the economic decisions of users of the financial statements.
B: Level determines if the financial statements as a whole are fairly stated.
C: Level used to design further audit procedures at the FSLI or class of transaction level or for disclosures.
D: Level used to determine which identified misstatements exceed the 'clearly trivial' level.
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