A Flowchart Is Most Frequently Used by an Auditor in Connection

question 21

Multiple Choice

A flowchart is most frequently used by an auditor in connection with the:

• A)preparation of generalised computer audit programs.
• B)review of the client's internal accounting controls.
• C)use of statistical sampling in performing an audit.
• D)performance of analytical procedures on account balances.

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Definitions:

Past Price Movements

Historical changes in the price levels of assets, often analyzed in financial markets to identify trends or patterns.

Abnormal Return

The difference between an investment's actual return and its expected return based on the market or a benchmark's performance.

Economic Return

The total financial gain or loss on an investment or business venture, considering both cash flows and changes in market value.

Market Movements

Fluctuations in the prices of securities within financial markets, influenced by various factors including economic indicators, market sentiment, and political events.