Which of the Following Are Examples of Substantive Procedures in Auditing

question 31

Multiple Choice

Which of the following are examples of substantive procedures in auditing revenue that are always performed?

• A)Comparing the monthly income statements to budget and investigating any unexpected fluctuations
• B)Testing the cut-off of revenues
• C)Both a and b
• D)None of the above

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Definitions:

Fair Labor Standards Act

An act that set rules for the employment of workers, including minimum wage levels, hours of work, and conditions for overtime.

Labor Management Relations Act

The Labor Management Relations Act (or Taft-Hartley Act) (1947) was a response to public outcries against a wide variety of strikes in the years after World War II; its basic purpose was to curtail and limit union practices.

Occupational Safety and Health Act

A law enacted to ensure that employers provide employees with an environment free from recognized hazards, such as exposure to toxic chemicals, excessive noise levels, mechanical dangers, heat or cold stress, or unsanitary conditions.

Taft-Hartley Act

A United States federal law passed in 1947 that restricts the activities and power of labor unions.