The major concern when using nonfinancial data in analytical procedures is the:
A)accuracy of the nonfinancial data.
B)source of the nonfinancial data.
C)type of nonfinancial data.
D)presence of multiple sources of nonfinancial data.

Question

Quizplus · Accepted Answer

The accuracy of nonfinancial data is the major concern because if the data is not accurate, it can lead to incorrect conclusions and decisions. It is important to ensure that the nonfinancial data used in analytical procedures is reliable and accurate. Other concerns, such as the source, type, and multiple sources of nonfinancial data, can also impact the effectiveness of analytical procedures, but accuracy is the primary concern.

The Major Concern When Using Nonfinancial Data in Analytical Procedures