The Tests Used by an Auditor to Gather Evidence Relating

question 57

Multiple Choice

The tests used by an auditor to gather evidence relating to long-term debt and owner's equity income statement transactions are called

• A)tests of controls
• B)substantive tests of transactions
• C)substantive test of balances
• D)analytical procedures

---

Definitions:

Economic Independence

The state of having sufficient personal wealth to live, without needing to work actively for basic necessities, allowing individuals or nations to have control over their financial future.

Visible Minorities

Refers to persons, other than Indigenous peoples, who are non-Caucasian in race or non-white in color and are recognized in certain jurisdictions for policy and diversity planning.

Self-Starters

Individuals who are motivated and begin or proceed with tasks without requiring external encouragement or pressure.

Course Of Action

A plan or method adopted to address a problem or achieve a goal, involving a sequence of steps or actions.