Which of the Following Audit Procedures Is Most Likely to Be

question 31

Multiple Choice

Which of the following audit procedures is most likely to be performed during the planning phase of the audit?

• A)Obtain an understanding of the client's risk assessment process.
• B)Identify specific internal control activities that are designed to prevent fraud.
• C)Evaluate the reasonableness of the client's accounting estimates.
• D)Test the timely cutoff of cash payments and collections.

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Definitions:

Post-Sale Service

Activities and support provided by a company to its customers after they have purchased a product or service, aimed at ensuring customer satisfaction and fostering loyalty.

Customer Service

Activities and programs provided by the seller to make the relationship a satisfying one for the customer.

Relationship Satisfying

Relationship satisfying involves actions and strategies aimed at ensuring a positive, fulfilling interaction or partnership between parties.

Core Principles

Fundamental beliefs or guidelines that form the foundation for a system, organization, or individual's actions and decisions.