Comparing the current-year gross margin with the prior-year gross margin to determine if cost of sales is reasonable during an audit would be a type of:
A) Test of transactions.
B) Analytical procedure.
C) Test of controls.
D) Test of details.
Correct Answer:
Verified
Q1: Assertions that have a meaningful bearing on
Q2: Financial statement assertions are established for
Q3: The auditors should propose an adjusting journal
Q4: Audit documentation is intended to allow _
Q5: Which of the following is not considered
Q7: Applying substantive tests to the details of
Q8: The professional standards consider calculating depreciation expense
Q9: To be effective,analytical procedures performed near the
Q10: The primary purpose of a letter of
Q11: In performing analytical procedures,the auditors may use
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