Which of the following statements is not correct about materiality?

Materiality judgments involve both quantitative and qualitative judgments

Materiality is a relative concept

At the planning state, the auditor considers materiality at the financial statement level only

Auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of an informed decision maker who will rely on the financial statements

Which of the following statements is not correct about materiality?

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