An audit team testing long-term investments would ordinarily use analytical procedures to ascertain the reasonableness of the:
A)existence of unrealized gains or losses.
B)completeness of recorded investment income.
C)classification as available-for-sale or trading securities.
D)valuation of trading securities.

Question

Quizplus · Accepted Answer

Analytical procedures are typically used to assess the reasonableness of recorded amounts, such as investment income, by comparing them to expected amounts based on historical data or industry averages.

An Audit Team Testing Long-Term Investments Would Ordinarily Use Analytical