Which Type of Audit Procedure Would Normally Be Sufficient for Purposes

question 41

Multiple Choice

Which type of audit procedure would normally be sufficient for purposes of auditing prepaid expenses and deferred charges?

• A)Tests of controls
• B)Tests of transactions
• C)Tests of details of balances
• D)Analytical procedures

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Definitions:

Strategy

A plan of action designed to achieve a long-term or overall aim.

Dominate

To have control, power, or authority over something or someone.

Oblige

To bind morally or legally, as by a promise or contract.

Needs

Fundamental or basic requirements necessary for individuals to feel fulfilled, satisfied, and secure, including physical, emotional, social, and psychological aspects.