The Basic Auditing Application of the Personal Computer as an Audit

question 70

Multiple Choice

The basic auditing application of the personal computer as an audit tool would not include

• A)spreadsheet analysis.
• B)sample planning,selection,and evaluation.
• C)continuous monitoring of a client's internal control system.
• D)analytical review.

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Definitions:

Patents

Legal rights granted to inventors, allowing them exclusive use and exploitation of their inventions for a certain period.

Unrealized Intercompany Profits

Profits arising from transactions between entities within the same group that have not yet been realized by selling the goods or services to an external party.

Cumulative Dividends

Dividends on preferred shares that accumulate and must be paid out before any dividends can be distributed to common shareholders.

Consolidated Cost

The total cost that combines figures from various subsidiaries of a parent company into one aggregated total.