Audit Data Analytics Should _______

question 16

Multiple Choice

Audit data analytics should _______.

• A)be customized to the individual client and industry
• B)be tailored to the individual client but consistent across an industry
• C)should be the same for each client, but differ among industries
• D)should be the same for both client and the industry in which they operate

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Definitions:

Aging Accounts Receivable

A method of managing accounts receivable by categorizing them according to the length of time an invoice has been outstanding.

Present Value

The current value of a future amount of money or stream of cash flows, given a specified rate of return.

Effect On Sales

The impact or change in the volume of sales as a result of a specific action or market condition.

Collectible

Items that are valued and sought after by collectors due to their rarity, condition, beauty, or personal emotional connection.