Benchmarking Is an Audit Strategy That Can Be Used to Carry

question 14

True/False

Benchmarking is an audit strategy that can be used to carry forward the benefit of certain application controls testing into future audit periods.

---

Definitions:

Geometric Sequence

A sequence of numbers where each term is found by multiplying the previous term by a constant called the common ratio.

Common Ratio

In a geometric sequence, the constant factor by which each term is multiplied to get the next term in the sequence.

Common Ratio

The common ratio in a geometric sequence is the constant factor between consecutive terms.

Geometric Sequence

A sequence of numbers where each term after the first is found by multiplying the previous one by a fixed, non-zero number called the common ratio.