All of the Following Are Steps in an IT Audit

question 127

Multiple Choice

All of the following are steps in an IT audit except

• A)substantive testing
• B)tests of controls
• C)post-audit testing
• D)audit planning

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Definitions:

Annual Net Cash Flows

The amount of cash a company generates after all its expenditures, both operational and capital in nature, have been paid off within a fiscal year.

Average Rate of Return

A financial metric used to calculate the average annual return on an investment or project over its lifetime.

Total Income

The sum of all earnings or revenues generated by an individual or entity within a specific period.

Residual Value

The estimated value that an asset will realize upon its sale at the end of its useful life.