For Audits of Financial Statements Made in Accordance with Generally

question 39

Multiple Choice

For audits of financial statements made in accordance with generally accepted auditing standards, the use of analytical procedures is required to some extent.

• A)As a substantive test: Yes; In the final review stage: Yes.
• B)As a substantive test: Yes; In the final review stage: No.
• C)As a substantive test: No; In the final review stage: Yes.
• D)As a substantive test: No; In the final review stage: No.

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Definitions:

Psychological

Pertaining to the mind and mental processes, influencing or influenced by emotional and cognitive factors.

Maslow Hierarchy

A psychological theory proposed by Abraham Maslow, categorizing human needs into five levels ranging from basic (such as physiological needs) to higher needs (like self-actualization).

Physiological

Pertaining to the field of biology focused on the regular operations of living beings and their components.

Self-actualization

Achieving one's full potential and talents, seen as a universal desire or drive.