Which of the Following Is Most Correct with Respect to the Use

question 35

Multiple Choice

Which of the following is most correct with respect to the use of analytical procedures?

• A)Analytical procedures may be used in evaluating balances in the testing phase as long as the auditor also uses them in assessing the going concern assumption.
• B)Analytical procedures must be used throughout the audit.
• C)Analytical procedures used in the testing phase of the audit are primarily used to direct an auditor's attention so that the auditor's understanding of the business is improved.
• D)Analytical procedures are performed by studying plausible relationships between financial and nonfinancial data.

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Definitions:

Environmental Assessments

The process of evaluating the environmental impacts of a planned project or development, to ensure that decisions incorporate environmental considerations.

Environmental Assessment

A procedure undertaken to determine the effect on the physical environment of a particular undertaking or activity.

Environmental Audit

An evaluation designed to identify environmental compliance and management system implementation gaps, along with related corrective actions.

Derelict Lands

Lands that have been abandoned or neglected and are no longer productive or useful.