Only 1 statement is True B. Only 2 statements are True C. All statements are True D. All statementS are False
S1: The extent of planning will vary according to the size of the entity, the complexity of the audit, the type of opinion to be expressed and the auditor's assessment of the client's ability to pay the audit fee. S2: The auditor's understanding of the entity and its environment assists in the identification of events, transactions and practices which may have a material effect on the financial statements. S3: One of the elements of the
A. Only 1 statement is True
B. Only 2 statements are True
C. All statements are True
D. All statementS are False
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