Substantive Tests of Costs and Expenses That Are Always Performed

question 4

Multiple Choice

Substantive tests of costs and expenses that are always performed include:

• A) reviewing interim financial reports and investigating fluctuations or the absence of expected changes.
• B) comparing the current year's expenses to the prior years actual and the current years budgeted amounts.
• C) obtaining detailed analysis of selected costs and expense accounts and trace the details to the source data.
• D) All of the above

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Definitions:

Security Needs

Basic human requirements for safety and security, including physical safety, employment, resources, health, and property.

Fat Cells

Cells that store energy in the form of fat and regulate metabolism.

Set-Point Theory

The theory that each individual has a genetically determined range of weight and temperature that their body will try to maintain to stay at optimal health.

Intrinsic Motivation

The drive to engage in an activity for its own sake, due to the inherent satisfaction and enjoyment it provides.