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linyuki linyuki
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A week ago
Which of the following discoveries through the use of analytical procedures would most likely indicate a relatively high risk of financial failure?

▸ a decline in gross margin percentages

▸ an increase in the balance in fixed assets

▸ an increase in the ratio of allowance for uncollectible accounts to gross accounts receivable, while at the same time accounts receivable turnover also decreased

▸ a higher than normal ratio of long-term debt to net worth as well as a lower than average ratio of profits to total assets
Textbook 

Auditing and Assurance Services


Edition: 17th
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moyo966moyo966
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A week ago
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a higher than normal ratio of long-term debt to net worth as well as a lower than average ratio of profits to total assets

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