The balance of cash in often between one to five percent of total assets. Tick the most appropriate statement with regard to verification of cash in context of this:

Ravi Chauhan • 11.26K Points
Tutor II

Q. The balance of cash in often between one to five percent of total assets. Tick the most appropriate statement with regard to verification of cash in context of this:

(A) Cash in always material as materiality is qualitative concept

(B) No audit of cash is needed when, in auditor’s opinion, cash is immaterial. Materiality is a relative concept

(D) Cash is to be verified if control risk is assessed as high

Correct Answer - Option(A)
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Q. The balance of cash in often between one to five percent of total assets. Tick the most appropriate statement with regard to verification of cash in context of this:

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