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Which statement best explains Detection risk?

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Question ID #27476

Correct Answer: B. Risk that audit procedures will not detect a material misstatement

Question: Which statement best explains Detection risk?

A. Evaluation of financial information through plausible relationships among data

B. Risk that audit procedures will not detect a material misstatement

C. Independent assurance activity within or for an organization to evaluate controls, risk management and governance

D. Application of audit procedures to less than 100 percent of items in a population

Correct Answer: B. Risk that audit procedures will not detect a material misstatement

Which statement best explains Detection risk? - MCQ Explanation

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Correct answer: B. Risk that audit procedures will not detect a material misstatement