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Why Is a Substantive Approach Used for Most Entities in the Audit

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Essay

Why is a substantive approach used for most entities in the audit of investment balances? Why is it rarely possible to obtain much evidence from analytical procedures in the audit of investment balances?


Definitions:

American Civil War Soldiers

Individuals who served in the military forces of the Union or the Confederacy during the American Civil War from 1861 to 1865.

Referents

The actual things or concepts that words or symbols stand for or represent in communication.

Concept

An abstract idea or general notion that represents something in the mind, forming the basis of thought, belief, or knowledge.

Classifications

The systematic arrangement in groups or categories according to established criteria.

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