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

question 65

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) 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.

Understand the concept of transitional expressions and their roles in connecting ideas in paragraphs.

Identify topic sentences and comprehend their significance in structuring paragraphs.

Distinguish examples that do and do not support a general statement or claim.

Comprehend the interaction between substances (like grapefruit juice) and medications and its effects.

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Definitions:

Direct Marketing

A strategy that involves direct communication with potential customers through various channels, aiming to generate a specific response or transaction.

Database Management

The process of storing, organizing, and managing data using database management systems (DBMS) to ensure data accessibility, accuracy, and security.

Promotion

The act of communicating the value of a product or service to potential customers, using various techniques to encourage sales.

Expensive

Refers to something that has a high price or cost, often relative to similar products or services.