At the Review Stage of an Audit,the Application of Analytical

question 14

Multiple Choice

At the review stage of an audit,the application of analytical procedures is ________.

• A)recommended by auditing standards
• B)not mentioned by auditing standards
• C)not useful,since detailed substantive tests have already been performed
• D)required by auditing standards

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Definitions:

Random Variable

A random variable is a variable whose values depend on outcomes of a random phenomenon, used in probability and statistics to model real-world processes.

Negative Value

A numerical value less than zero, indicating a deficit or loss in a particular context.

Standard Normal

A standard normal distribution characterized by a mean of 0 and a standard deviation of 1.

Distribution

The way in which something is shared out among a group or spread over an area, or in statistics, how values in a dataset are spread out.