Shown Below (1 Through 5) Are the Five Types of Tests

question 114

Multiple Choice

Shown below (1 through 5) are the five types of tests which auditors use to determine whether financial statements are fairly stated. Which three are substantive tests?
1) risk assessment procedures
2) tests of controls
3) substantive tests of transactions
4) substantive analytical procedures
5) tests of details of balances

• A) 1, 2, and 3
• B) 3, 4, and 5
• C) 2, 3, and 5
• D) 2, 3, and 4

Grasp the importance of emotional intelligence and its components.

Differentiate among various views and theories of intelligence.

Assess the influence of sociohistorical context on intelligence research and theories.

Understand stereotype vulnerability and its effects on performance.

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Definitions:

Assumptive Close

A sales technique where the seller assumes that the buyer has decided to make a purchase and moves forward with finalizing the sale, often by discussing next steps or payment options.

Purchase Decision

The process by which a consumer decides whether to buy a product or service, often influenced by factors such as need, desire, price, and brand loyalty.

Final Commitment

The ultimate agreement or decision made by a person or organization, often after a period of negotiation or consideration.

Limited Temporary Basis

A condition or period that is restricted in both scope and duration.