The Primary Purpose of Performing Analytical Procedures in the Planning

question 90

Multiple Choice

The primary purpose of performing analytical procedures in the planning phase of an audit is to:

• A) help the auditor obtain an understanding of the client's industry and business.
• B) assess the going concern assumption.
• C) indicate possible misstatements.
• D) reduce detailed tests.

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Definitions:

Dispossessed Groups

Communities or individuals who have been stripped of their possessions, land, or rights, often leading to marginalization and deprivation.

Economic Organization

The structured systems and processes through which goods and services are produced, distributed, and consumed within an economy.

Unrelated Parts

Unrelated parts refer to components or elements that do not have a direct connection or association with each other within a specific context or system.

Extreme Behavior

Actions or conduct that significantly deviate from the social norms and expectations of a particular society or community.