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Which of the Following Is Not a Use of CAATs

question 24

Short Answer

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


Definitions:

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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