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The risk of material misstatement due to fraud relating to revenue recognition should be a. given...

The risk of material misstatement due to fraud relating to revenue recognition should be a. given lower priority to the risk of embezzlement. b. ordinarily presumed by the auditor. c. approached in a manner that is identical to control risk assessment. d. assumed to have been considered by the FASB.

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Answer #1

Ans- the correct option is b.ordinarily presumed by the auditor.

Rest options are incorrect.

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