When Conducting Variables Sampling,auditors Typically Examine

question 62

Multiple Choice

When conducting variables sampling,auditors typically examine

• A) transactions of components of the account balance or class of transactions.
• B) the balances in an account balance or class of transactions from one or more prior years.
• C) the separation of duties among client personnel for transactions related to the account balance or class of transactions.
• D) minutes from meetings of the client's board of directors.

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Definitions:

Utility

A measure of the satisfaction, usefulness, or value that a consumer receives from consuming a product or service.

Subjective Benefit

The personal value or advantage gained by an individual from a product or service, which varies from person to person.

Course of Action

A plan or strategy intended to accomplish a specific goal or resolve a problem.

Opportunity Cost

The act of abandoning potential benefits available in other choices upon selecting a specific alternative.