Which of the following is a procedure designed to test for monetary errors or irregularities directly affecting the correctness of financial statement balances?
A) substantive test
B) monetary-unit sampling test
C) test of control
D) test of attributes

Question

Quizplus · Accepted Answer

A substantive test is designed to test for errors or irregularities directly affecting financial statement balances, whereas a test of control is designed to test the effectiveness of internal controls. Monetary-unit sampling and test of attributes are specific types of substantive tests, but they do not encompass the full scope of all substantive tests.

Which of the Following Is a Procedure Designed to Test