To Obtain an Understanding of Significant Processes and Relevant Subprocesses,auditors

question 49

Multiple Choice

To obtain an understanding of significant processes and relevant subprocesses,auditors would be least likely to use which of the following techniques?

• A) Reviewing management documentation.
• B) Inquiry.
• C) Scanning.
• D) Transaction walkthroughs.

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Definitions:

Funding Sources

Various origins of financial support for businesses or projects, including loans, investments, grants, and personal savings.

Future Earnings

Projected profits or income of a business or investment, anticipated in future periods based on past and current trends.

Venture Capitalist

An investor who provides capital to startup companies and small businesses with perceived long-term growth potential.

Non-Monetary Capabilities

Skills, knowledge, relationships, and other intangible assets that do not have a direct monetary value but contribute to an organization's or individual's success.