For Which of the Following Objectives Would Auditors Be Least

question 16

Multiple Choice

For which of the following objectives would auditors be least likely to use analytical procedures near the end of the audit?

• A)Obtaining evidence about assertions related to account balances or classes of transactions
• B)Evaluating the adequacy of evidence gathered in response to unexpected account balances
• C)Identifying unusual or unexpected account balances or relationships among account balances that were not previously identified during the audit
• D)Evaluating the adequacy of evidence gathered in response to unexpected relationships among account balances

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Definitions:

Combined Equivalent

A combined measure or assessment that brings together several different factors or values into a single, comprehensive figure.

Scheduled Payments

Periodic payments made by a borrower to a lender under the terms of a loan.

Compounded Monthly

The process of applying interest to an initial sum and the accumulated interest over time on a monthly basis.

Final Payment

The final payment is the last installment paid in a payment schedule, settling the remaining balance of a financial obligation.