The least costly form of testing is usually:
A) tests of controls.
B) tests of detail of transactions.
C) analytical procedures.
D) tests of detail of balances.
E) tests of compliance.

Question

Quizplus · Accepted Answer

Analytical procedures are generally considered the least costly form of testing because they involve reviewing financial information and ratios to identify any unusual or unexpected trends or relationships, rather than detailed testing of transactions or balances. This can often be done using existing data and does not require the extensive collection and verification of new information.

The Least Costly Form of Testing Is Usually