Analytical Procedures May Not Be Used

question 23

Multiple Choice

Analytical procedures may not be used:

• A)to provide at least some minimal level of support for the conclusion.
• B)as primary tests of an account balance.
• C)in testing internal controls.
• D)as corroborative tests in combination with other procedures.

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Definitions:

Adjusting Entries

Entries compiled at the termination of an accounting interval aiming to apportion income and expenditure to their rightful temporal occurrence.

Trial Balance

A financial spreadsheet where the totals of all ledger balances are gathered into columns for debits and credits, ensuring these totals match.

T Accounts

A visual representation of accounts used in double-entry bookkeeping, showing debits on the left and credits on the right.

Ending Figure

The ending figure represents the final amount or value of an account or calculation at the conclusion of a specified period.