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Author Question: Which of the following is a correct statement regarding analytical procedures? (Read 63 times)

xjustxicex

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on: Aug 21, 2022

Question 1

Which is a liquidity activity ratio?
◦ profit margin
◦ inventory turnover
◦ return on assets
◦ times interest earned

Question 2

Which of the following is a correct statement regarding analytical procedures?
◦ A major strength in using industry ratios for auditing is the difference between the nature of the client's financial information and that of the firms making up the industry totals.
◦ Common-size financial statements display all items as a percentage change from a base year.
◦ In identifying areas of specific risk, the auditor is likely to focus on the liquidity activity ratios.
◦ In order to look for a misstatement in the allowance for bad debts, the auditor should divide gross sales by sales returns and allowances.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by xjustxicex on Aug 21, 2022

Rcfelber

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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xjustxicex

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

Sarahjh

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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