Which One of the Following Statements Is NOT Correct

question 91

Multiple Choice

Which one of the following statements is NOT correct?

• A) Tests of transactions are often performed several months prior to the balance sheet date.
• B) It is common to use analytical procedures at any time during the audit.
• C) Tests of details of balances are normally the last tests performed.
• D) When controls are not considered effective, or when control deviations are discovered, substantive tests will be eliminated.

---

Definitions:

Razors and Razor Blades

A business model where a main product is sold at a low price to increase sales of a complementary product, which is where the profit is made.

Demands Correlation

Refers to the relationship between the demands for different goods or services, indicating how changes in one impact the other.

Bundling

Bundling refers to the marketing strategy of selling several products or services together as a single combined unit, often at a discount.

Higher Revenues

An increase in the amount of money received from sales or services, often an objective in businesses aiming to grow or expand.