DETECTION RISK Definition

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DETECTION RISK is the risk that audit procedures will lead to a conclusion that material error does not exist when in fact such error does exist.

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LARGE-CAP is a stock with a level of capitalization of at least $5 billion market value.

EXEMPTED SECURITY is a security that is exempted from SEC regulations, including margin rules. Such securities include U.S. Treasury and government agency securities and municipal securities designated by the SEC.

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