Calculating the Gross Margin for the Current Year Under Audit

question 75

Multiple Choice

Calculating the gross margin for the current year under audit as a percent of sales and comparing it with previous years is what type of evidence?

• A) physical examination
• B) analytical procedures
• C) observation
• D) inquiry

---

Definitions:

Committee Meetings

Gatherings where members of a specific group come together to discuss issues, make decisions, or manage projects within their remit.

Shared Information

Refers to data or knowledge that is openly or mutually known, communicated, and used by all members involved in a group or project.

Self-Censorship

The act of withholding one's opinions, feelings, or concerns, especially in group situations, to avoid conflict or to conform to perceived social norms.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, often improving on simple or well-rehearsed tasks.