Tests of Controls and Substantive Tests of Transactions Are an Important

question 119

Multiple Choice

Tests of controls and substantive tests of transactions are an important determinant of the extent of the auditor's use of tests of details of balances. Which of the following is true?

• A) They are likely to be performed prior to the client's end of the fiscal year.
• B) They are likely to eliminate the need for tests of details of balances.
• C) They are likely to have no impact on the planned tests of details of balances.
• D) They are likely to be used only in the audit of internal control.

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A brand name for fluoxetine, a medication primarily used to treat major depressive disorder, obsessive-compulsive disorder, and panic disorder.

Serotonin

A neurotransmitter in the brain that plays a key role in mood regulation, gastrointestinal activity, and other bodily functions.

Synapses

Synapses are the junctions between nerve cells where neurotransmitters are released to transmit signals from one neuron to another.