A Major Benefit of Computerized Analytical Procedures Is the

question 75

Multiple Choice

A major benefit of computerized analytical procedures is the

• A)ease of doing the calculations.
• B)ease of updating the calculations.
• C)ease of correcting math calculations.
• D)ability to push the work down to lower levels of the audit staff to do the analysis.

---

Definitions:

Economic Rent

The excess payment made to a factor of production over and above what is needed to keep it in its current use, often due to unique circumstances.

Marginal Worker

An individual whose employment status is unstable or insecure, often at the fringes of the labor market.

Reservation Wage

The minimum wage at which an individual would be willing to accept for a particular job, below which they would choose not to work.

Ceteris Paribus

Ceteris paribus is a Latin term used in economics meaning "all other things being equal," employed to isolate the effect of one variable by assuming that other variables remain constant.