Azerbaijan Auditor Certification Practice Questions - Azerbaijan Auditor Qualification Examination (Auditor Sertifikasiya) Exam

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An auditor calculates overall planning materiality for an enterprise with total revenue of 40,000,000 AZN and profit before tax of 4,000,000 AZN. The audit team sets planning materiality at 5% of profit before tax, performance materiality at 75% of planning materiality, and the threshold for clearly trivial misstatements at 5% of planning materiality. What are the respective values for performance materiality and the clearly trivial threshold?

Performance materiality: 150,000 AZN; Clearly trivial threshold: 10,000 AZN Performance materiality: 200,000 AZN; Clearly trivial threshold: 20,000 AZN Performance materiality: 300,000 AZN; Clearly trivial threshold: 15,000 AZN Performance materiality: 100,000 AZN; Clearly trivial threshold: 5,000 AZN

Correct Answer:

Performance materiality: 150,000 AZN; Clearly trivial threshold: 10,000 AZN

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