The Timing of Audit Procedures Depends On

question 36

Multiple Choice

The timing of audit procedures depends on:

• A) when the client needs the audit to be completed.
• B) when audit staff is available.
• C) when the auditor believes the audit evidence will be most effective.
• D) all of the above

---

Definitions:

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; these costs decline as production increases.

Marginal Cost

The financial cost of producing an extra unit of a good or service.

Average Total Cost

The total cost of production divided by the quantity of output produced.

Average Variable Cost

Represents the cost that varies with the level of output, calculated by dividing the variable costs by the quantity produced.