What statement below is not true in regards to performing substantive analytical procedures to test...
50.1K
Verified Solution
Link Copied!
Question
Accounting
What statement below is not true in regards to performing substantive analytical procedures to test long term liability balances? a Substantive analytical procedures also encompass the investigation of identified fluctuations and relationships that are inconsistent with other relevant information. b Substantive analytical procedures only need to be performed over income statement accounts and not balance sheet accounts. c The auditor needs to have a good understanding of the client's business to develop appropriate expectations. d Substantive analytical procedures consist of evaluations of financial information made by a study of plausible relationships between both financial and nonfinancial data. 
What statement below is not true in regards to performing substantive analytical procedures to test long term liability balances?
a Substantive analytical procedures also encompass the investigation of identified fluctuations and relationships that are inconsistent with other relevant information.
b Substantive analytical procedures only need to be performed over income statement accounts and not balance sheet accounts.
c The auditor needs to have a good understanding of the client's business to develop appropriate expectations.
d Substantive analytical procedures consist of evaluations of financial information made by a study of plausible relationships between both financial and nonfinancial data.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.