B is corrent because the measure of the validity of evidence for audit purposes is based upon the judgment of the auditor. This audit judgment is used to estimate levels of materiality, and relative risk.
A is incorrect because reasonable assurance is the general concept which states that the cost of internal control should not exceed the expected benefit.
C is incorrect because evaluating relative risk is only one aspect of audit judgment used to determine necessary auditing procedures.
D is incorrect because estimating levels of materiality is only one aspect of audit judgment used to determine necessary auditing procedures.
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