Which one of the following audit tests is usually the MOST costly to perform?
A) analytical procedures
B) tests of balances
C) tests of controls
D) substantive tests of transactions

Question

Quizplus · Accepted Answer

Tests of balances involve verifying the balances of accounts such as cash, accounts receivable, and inventory, which can be time-consuming and require a significant amount of work to ensure accuracy. This can make them the most costly audit test to perform compared to the other options listed.

Which One of the Following Audit Tests Is Usually the MOST