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Which of the following statements is not correct about materiality?
Auditingmedium
AMateriality is a relative concept
BMateriality judgments involve both quantitative and qualitative judgments
CAuditor’s consideration of materiality is influenced by the auditor’s perception of the needs of an informed decision maker who will rely on the financial statements
At the planning state, the auditor considers materiality at the financial statement level only
Correct Answer: D. At the planning state, the auditor considers materiality at the financial statement level only
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