Shown Below (1- 5) Are the Five Types of Tests

question 93

Multiple Choice

Shown below (1- 5) are the five types of tests which auditors use to determine whether financial statements are fairly stated. Which three are substantive tests? 1. Procedures to obtain an understanding of internal control
2) Tests of controls
3) Tests of transactions
4) Analytical procedures
5) Tests of balances

• A) 2, 3 and 4
• B) 1, 2 and 3
• C) 2, 3 and 5
• D) 3, 4 and 5

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Definitions:

Younger Workers

Individuals in the workforce who are typically in the early stages of their career, often younger in age and with less experience.

Advancement

Progress or development in a particular aspect, such as career, knowledge, or technological improvement.

Lasting Difference

A change or impact that persists over time, often signifying a notable deviation from a previous state or condition.

Career Consolidation

Career consolidation is a life stage where individuals focus on career development, seeking job security and satisfaction.