Of the Following,which Is the Most Important Procedure That an Auditor

question 55

Multiple Choice

Of the following,which is the most important procedure that an auditor should use when making an overall review of the income statement?

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

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Definitions:

Select Outcomes

The process of identifying specific desired results or goals in various contexts, such as education, projects, or health interventions.

Target Time

A specific period set for the completion of a task or achievement of a goal.

NANDA-I Taxonomy

A comprehensive classification system for nursing diagnoses developed by the North American Nursing Diagnosis Association International.

Bowel Obstruction

A medical condition where there is a blockage preventing the normal passage of intestinal contents, leading to symptoms like pain, vomiting, and constipation.