Generally, Auditors Rely on Controls When Auditing the Property Management

question 34

True/False

Generally, auditors rely on controls when auditing the property management function and therefore less substantive testing is used.

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Definitions:

Utilizes Assets

The process of efficiently using company resources or assets to generate revenue or achieve strategic objectives.

External Financing

It refers to the funds a business obtains from outside sources, such as bank loans, venture capital, or issuing bonds or equity, to finance its operations or expansion.

Sales Increase

The situation where a company experiences growth in its revenue from the sale of goods or services over a specific period.

Percentage Of Sales

A financial ratio that compares a particular figure or metric to the total sales of a company.