Problem

The risk of material misstatement differs from detection risk in that itA. Arises from the...

The risk of material misstatement differs from detection risk in that it

A. Arises from the misapplication of audit procedures.

B. May be assessed in either quantitative or nonquantitative terms.

C. Exists independently of the financial statement audit.

D. Can be changed at the auditor’s discretion.

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