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The concept of reasonable assurance in the context of an entity's internal controls recognizes that :

A. Auditors may fail to detect material misstatements.

B. Proper internal controls guarantee that material misstatements will not occur.

C. Proper internal controls preclude fraud.

D. The costs of some controls may be too high to implement in relation to potential benefits.

Accounting Basics, Accounting

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  • Reference No.:- M942601

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