For the most part, auditors treat each transaction cycle:
A) as a joint venture with other clients in the same industry.
B) separately as the audit is being performed.
C) as an interrelated unit with the other cycles throughout the entire audit.
D) as a separate business unit with different audit teams.

Question

Quizplus · Accepted Answer

Auditors treat each transaction cycle separately as the audit is being performed because each cycle is a distinct set of activities that can be audited independently of the other cycles.

For the Most Part, Auditors Treat Each Transaction Cycle