Four Methods That Are Used by Audit Teams to Test

question 93

Short Answer

Four methods that are used by audit teams to test the operating effectiveness of controls include inquiry,observation,documentation examination,and ______________________

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Definitions:

Build-up Method

A financial analysis tool used to estimate the value of a business by adding together its individual components' values.

Market Segmentation

The practice of dividing a broad target market into smaller groups with similar needs or characteristics to target each group more effectively.

Regression Analysis

A forecasting method that predicts future sales by finding a relationship between sales and one or more variables.

Historical Sales Data

Records of past sales activities used to analyze trends, performance, and business growth strategies.