Which of the Following Is Not a Typical Test of Controls

question 15

Multiple Choice

Which of the following is not a typical test of controls when auditing debt and equity transactions?

• A)Inquiry of personnel performing the control.
• B)Comparing current year account balances with prior year account balances.
• C)Observation of the control being performed.
• D)Reperformance of the control by the auditor testing the control.

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Definitions:

Horizontal Analysis

A financial analysis technique that compares historical financial data over a series of reporting periods, or of different companies during the same period.

Certain Date

A specific, determined point in time, often mentioned in contracts and agreements.

Percentage Increase

A measure expressed as a percentage that represents the magnitude of an increase in a value or quantity compared to its original value.