Flowcharts Are Used by an Auditor to

question 95

Multiple Choice

Flowcharts are used by an auditor to

• A) document the generalized computer audit programs.
• B) document the audit client's accounting controls.
• C) provide a checklist of internal controls.
• D) provide a description of the audit client's accounting controls.

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Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded by consumers, normally downward sloping.

Revenue

The income that a business receives from its normal business activities, usually from the sale of goods and services to customers.

Price Elasticity

An indicator of the degree to which demand for a product is affected by variations in its price, reflecting consumer sensitivity to price fluctuations.

Rock Concert

A live music performance featuring rock music by one or more artists or bands.