In Describing the Cycle Approach to Segmenting an Audit, Which

question 74

Multiple Choice

In describing the cycle approach to segmenting an audit, which of the following statements is not true?

• A) All general ledger accounts and journals are included at least once.
• B) Some journals and general ledger accounts are included in more than one cycle.
• C) The "capital acquisition and repayment" cycle is closely related to the "acquisition of goods and services and payment" cycle.
• D) The "inventory and warehousing" cycle may be audited at any time during the engagement since it is unrelated to the other cycles.

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Definitions:

Speech Sounds

The distinct auditory units or phonemes produced by the human vocal apparatus that constitute the basic building blocks of spoken language.

dB

dB stands for decibel, a unit of measurement that quantifies the intensity of sound or the power level of an electrical signal by comparing it with a given level on a logarithmic scale.

Cycles Per Second

A measurement of frequency, now replaced by the Hertz (Hz), indicating the number of complete oscillations or cycles of a wave in one second.

Hz

Hertz, a unit of frequency defined as one cycle per second, used to measure the frequency of waves, including sounds and electromagnetic waves.