Examlex
In order to promote audit efficiency the auditor considers cost in selecting audit tests to perform.Which of the following audit tests would be the most costly?
Transactions
The exchange of goods, services, or funds between two or more parties, forming the basis of accounting records.
Debit Credit
The two aspects of every financial transaction, where debit increases assets or expenses and credit increases liabilities, equity, or income.
Par Value
The nominal value of a bond, share of stock, or coupon as stated by the issuer, often used as a legal face value.
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