An Audit Working Paper Generally Includes

question 16

Multiple Choice

An audit working paper generally includes

• A) the client's name.
• B) cross-referencing between working papers.
• C) a file reference.
• D) all of the above

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Definitions:

Variances

Differences between planned or expected financial outcomes and the actual results observed.

Performance Reports

Documented assessments that provide information on the performance of activities, processes, or strategies against planned objectives.

Sales Price Variance

The difference between the actual sales revenue received from a product and the expected revenue, based on the planned selling price and actual quantity sold.

Actual Sales Price

The price at which goods or services are actually sold, which may vary from the list or expected price.