Which of the Following Analytical Procedures Should Be Applied to the Income

question 47

Multiple Choice

Which of the following analytical procedures should be applied to the income statement?

• A)Ascertain that the net income amount in the statement of cash flow agrees with the net income amount in the income statement.
• B)Select sales and expense items and trace amounts to related supporting documents.
• C)Compare the actual revenues and expenses with the corresponding figures of the previous year and investigate significant differences.
• D)Obtain from the proper client representatives the beginning and ending inventory amounts that were used to determine costs of sales.

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