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What is the material level

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Reference no: EM132470683

Auto Delivery Company has a fleet of several delivery trucks. In the past, Auto Delivery had followed the policy of purchasing all equipment. In the current year, they decided to lease the trucks. The method of accounting for the trucks is therefore changed to lease capitalization. This change in policy is fully disclosed in footnotes. Given condition is "No conditions are applicable"

Question a) What is the material level? Choose from the following

1) High material

2) High material or material

3) Immaterial

4) Material

6) Not applicable

Question b) What is the auditing report? Choose from the following

1) Qualified

2) Unqualified

3) Disclaimer

4) Adversed

Question c) What is the additional information? Choose from the following

1) Amount of loss

2) Auditor's judgement

3) Client imposed limit

4) Size materiality

Reference no: EM132470683

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