Which of the following audit tests is usually the least costly to perform?
A) substantive analytical procedures
B) tests of controls
C) tests of balances
D) substantive tests of transactions
Correct Answer:
Verified
Q48: When auditors must decide which type of
Q49: When an auditor believes that analytical procedures
Q50: In order to promote audit efficiency, the
Q51: The reliance the auditor places on substantive
Q52: A deficiency uncovered in the audit of
Q54: Several factors influence the auditor's choice of
Q55: An increased extent of tests of controls
Q56: If tests of controls support the control
Q57: Tests of controls are generally costlier to
Q58: Discuss the purposes of (1) substantive tests
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