Which of the Following Is Not a Weakness of Analytical

question 18

Multiple Choice

Which of the following is not a weakness of analytical procedures?

• A) Fraudulent financial reporting often reports numbers that appear to be reasonable.
• B) The auditor may have no basis for presuming that the data used is accurate.
• C) Analytical procedures are usually very cost effective.
• D) Improper specification of relationships between the variables used may undermine their effectiveness.
• E) Any audit procedure runs some risk of failing to detect material misstatements.

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Definitions:

Garment Industry

A sector of the economy dedicated to the design, production, and marketing of clothing and accessories, often characterized by labor-intensive manufacturing processes.

Malnourished Children

Young individuals suffering from inadequate nutrition, which significantly impacts their physical and cognitive development.

Personal Freedom

Personal freedom refers to the rights of individuals to make choices and live their lives without undue restrictions or interference from others or the government, encompassing freedoms of speech, action, and thought.

Greenwich Village

A neighborhood in Lower Manhattan, New York City, known for its vibrant arts scene, bohemian lifestyle, and as a historic center of LGBTQ+ culture.