The Auditor Uses Substantive Tests of Transactions to Gather Evidence

question 25

Multiple Choice

The auditor uses substantive tests of transactions to gather evidence for

• A)balance sheet transactions in a business process
• B)income statement transactions in a business process
• C)income statement accounts in a business process
• D)policies and procedures in a business process

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Definitions:

Technological Complexity

The intricacies involved in the technical aspects of a system, machinery, or process, which can affect its operation, maintenance, and enhancement.

Familiarity Of Technology

The extent to which individuals or organizations are comfortable with and able to effectively use technology tools and systems.

Equipment Vendors

Companies or individuals that supply machinery, tools, and technical gear to consumers or other businesses.

Lowest Bid

The smallest monetary offer made by a contractor to complete a specified project or service.