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Which of the following is not a use of CAATs in auditing?
A. Test of details of transactions and balances
B. Analytical review procedures
C. Fraud examination
D. Produce terms and conditions of employment
Equivalent Value
The worth of an item, service, or amount in terms of another, often used in comparisons or exchanges.
Compounded Semi-annually
The process where interest is added to the principal sum of an investment or loan twice a year, resulting in interest earning interest.
Third Payment
This refers to the third installment of a series of payments toward a financial obligation.
Loan
Borrowed capital which is due to be paid back with interest.
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