Near the End of an Audit, the Application of Analytical

question 18

Multiple Choice

Near the end of an audit, the application of analytical procedures is

• A)recommended by auditing standards.
• B)not mentioned by auditing standards.
• C)not useful, since detailed substantive procedures have already been performed.
• D)required by auditing standards.

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Definitions:

U.S. GNP

Gross National Product of the United States, which is the total market value of all final goods and services produced by residents of the country within a specific time period, regardless of production location.

American Doctor

A licensed medical practitioner in the United States qualified to diagnose and treat illnesses, injuries, and other health conditions.

Net Exports

The net trade balance of a country, calculated by subtracting its total imports from its total exports.

Imports

Products and services imported from other countries for the purpose of selling them domestically.