Which of the Following Are Audit Procedures Used by the Auditor

question 18

Multiple Choice

Which of the following are audit procedures used by the auditor to gather evidence?

• A)anecdotal procedures
• B)inspection
• C)analysis
• D)inquiry
• E)communication
• F)both A and C
• G)both B and D

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Definitions:

Materials Price Variance

The difference between the actual cost of materials purchased and the expected cost of materials, adjusted for the actual quantity purchased.

Production Line

An arrangement of machines and workers in a factory where a product passes sequentially from operation to operation until completed.

Waste

Unwanted materials or substances produced by a manufacturing process or during consumption, often associated with inefficiency or environmental harm.

Fixed Costs

Expenses that do not change with the level of production or business activity, such as rent, salaries, and insurance.