Sources of Audit Planning Information May Come from Which of the Following

question 14

Multiple Choice

Sources of audit planning information may come from which of the following?

• A)Knowledge of client's business and industry.
• B)Assessment of risk of material misstatement.
• C)Results of analytical procedures.
• D)All of the above.

Grasp the purpose and process of adjusting entries in recording internal transactions and events.

Distinguish between the accrual basis and cash basis of accounting.

Comprehend the time period assumption and its relevance to financial reporting.

Understand the matching principle and its application in preparing financial statements.

---

Definitions:

Page Layout View

A display mode in word processors and spreadsheet applications that shows the document as it would appear when printed.

Normal View

The default viewing mode in many software applications, such as Microsoft Word or PowerPoint, showing the document or workspace without additional formatting or layout views.

Backstage View

A feature in Microsoft Office applications that provides access to file management tasks, settings, and information about the document.

Web Preview

A feature that allows users to see how web content will look before it is published or goes live.