Auditors May Find That the Use of Data Analysis Techniques

question 47

True/False

Auditors may find that the use of data analysis techniques allows them to test the entire population of an account balance for certain audit objectives.

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Definitions:

Invested

To distribute financial resources aiming for potential benefits down the line, including income or profits.

Investment

The allocation of resources, usually money, in the expectation of generating an income or profit over time.

Compounded Semi-Annually

The process of calculating and adding interest to the principal sum of a loan or deposit twice a year.

9 Years

A period of time equivalent to nine cycles of 365 (or 366 in leap years) days, commonly used in reference to durations or time frames in various contexts.