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Title: Which of the following is a correct statement regarding analytical procedures? Post by: tunisia81 on Aug 1, 2022 Which of the following is a correct statement regarding analytical procedures?
▸ If an auditor identifies a possible misstatement in sales using analytical procedures, accounts payable will be the likely offsetting misstatement. ▸ Auditors should also compare the results of their analytical procedures to budgets and industry trends. ▸ If sales are overstated, the income statement will be incorrect, but the balance sheet will be correct. ▸ If an analytical procedure uncovers an unusual fluctuation, the auditor must assume fraud is involved. Title: Which of the following is a correct statement regarding analytical procedures? Post by: iammtz on Aug 1, 2022 Content hidden
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