Which of the Following Is Not a Typical Analytical Procedure

question 60

Multiple Choice

Which of the following is not a typical analytical procedure for the completion of the audit?

• A)Ratio analysis.
• B)Common-size analysis.
• C)Changes from the prior year.
• D)All of the above would typically be used.

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Definitions:

Condition Precedent

A condition precedent is a contractual condition that must be fulfilled before a party's promise or obligation becomes binding.

Obligations Commencement

The starting point or effective date when obligations or duties under a contract or agreement begin.

Contractual Term

A provision or condition outlined in a contract that defines the obligations, rights, and duties of the parties involved.

Novation

The creation of a new contract through the substitution of a third party for one of the original parties to a contract by the consent of all.