For Each of the Audit Procedures Listed Below Select the Type

question 41

Multiple Choice

For each of the audit procedures listed below select the type of audit procedure,if any,that the auditor performed.A type of audit procedure may be selected once or not at all.
-The auditor sent a letter to the company's outside attorney accompanied by management's request for information concerning pending or threatened litigation,claims,and assessments.

• A)Inspection of tangible assets
• B)Observation
• C)Recalculation
• D)Inquiry
• E)Inspection of records or documents
• F)Reperformance
• G)Analytical procedures

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Definitions:

Financial Reports

are formal records that outline the financial activities and condition of a business, government, or other entity, typically including balance sheets, income statements, and cash flow statements.

Nonfinancial Operating Details

Refers to the operational information of a business that does not directly relate to financial figures but is crucial for comprehensive business analysis, such as productivity metrics or customer satisfaction levels.

Benchmark Comparison

The process of comparing performance metrics or financial results against a standard or average within the same industry or sector.

Time-series Analysis

The statistical technique of analyzing time-ordered data points to identify trends, cycles, or seasonal variations.