Which of the Following Is Not a Direct Result of Performing

question 36

Multiple Choice

Which of the following is not a direct result of performing analytical procedures?

• A) identify areas of potential misstatements
• B) reduce detailed audit tests
• C) understand the client's business
• D) identify specific errors in the accounts

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Definitions:

Source Documentation

The original records and documents related to a study, project, or transaction, serving as evidence for claims and conclusions.

Fraudulent Misstatements

False or misleading statements made intentionally to deceive others.

Stop-payment Order

A request made to a bank by an account holder to not pay a check that has been issued or to halt a payment that has been preauthorized.

Holder In Due Course

A term relating to negotiable instruments, denoting a party that has received an instrument in good faith, for value, and without notice of any defects or claims against it.