Which of the Following Audit Techniques Provides for Continuous Monitoring

question 374

Multiple Choice

Which of the following audit techniques provides for continuous monitoring and analysis of computer transactions for detailed auditing?

• A) Integrated test facility.
• B) Parallel simulation.
• C) Test data.
• D) Embedded audit routines.

Understand the principles of consumer behavior and utility maximization.

Comprehend the impact of price changes on the quantity demanded due to the law of diminishing marginal utility.

Recognize the factors influencing demand and supply in competitive markets.

Grasp the concept of marginal utility and how it guides consumer choices and spending.

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Definitions:

General Partner

An owner of a partnership who is actively involved in its management and has unlimited personal liability for the business debts.

Business Management

The activities associated with running a company, such as planning, organizing, directing, and controlling, to achieve business objectives.

Borrowing Money

Borrowing money involves obtaining funds from another party with the promise to repay the principal amount along with interest or other financial charges.

Equipment

The set of tools, machinery, and other physical devices necessary for the production of goods or the provision of services.