Ask Question
BusinessBusiness
18 January, 15:43

An analytical procedure example is the comparison of:

Multiple Choice

a. Financial ratios of the current year to previous years.

b. Recorded amounts of major disbursements with appropriate invoices.

c. Results of a statistical sample with the expected characteristics of the actual population.

d. EDP generated data with similar data generated by a manual accounting system.

+2
Answers (1)
  1. 18 January, 16:16
    0
    The correct example of an analytical procedure is the comparison of A) financial ratios of the current year to previous year.

    Explanation:

    Analytical procedure is a type of financial audit process which is usually done by an auditor or a person who has extensive knowledge of the business and the industry. Through this process an auditor, is trying to understand the clients business and changes that are taking place in the industry, so that he or she can identify what are the potentially risky areas for the company.

    In this process an auditor would compare the financial statements of the company with the source of information or with previous years financial statements to see what re the areas in which company has improved or needs to be improved.

    So it won't be wrong to say that an example of analytical procedure would be comparing the financial ratios of current year to previous year.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An analytical procedure example is the comparison of: Multiple Choice a. Financial ratios of the current year to previous years. b. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Earned net income of $65,000 after deducting depreciation of $8,000 and all other expenses. Current assets decreased by $7,000 , and current liabilities increased by $9,000.
Answers (1)
Suppose the government finds a major defect in one of a company's products and demands that the product be taken off the market. We would expect that the O a. demand for existing shares of the stock and the price will both fall. O b.
Answers (1)
Coronado Co. had a sheet metal cutter that cost $115,000 on January 5, 2016. This old cutter had an estimated life of ten years and a salvage value of $20,000.
Answers (1)
If U. S. residents purchase $450 billion of foreign assets and foreigners purchase $575 billion of U. S. assets, then the U. S. has net capital outflows of - $125 billion and a trade deficit of $125 billion. a. True. b. False.
Answers (1)
What does the process of specialization do for an economy? A. It eliminates unemployment. B. It makes production more efficient. C. It fosters competition. D. It makes labor easier to control.
Answers (1)
New Questions in Business
Observing children's needs and interests should affect the way you plan activities. a. true b. false
Answers (1)
Suppose a price floor is imposed on eggs above their equilibrium price. the likely result will be:
Answers (1)
Sol-tex has net income of $1,300,000 and 400,000 shares outstanding. it has preferred dividends of $300,000. what are the earnings per share?
Answers (1)
Bustillo Inc. is working on its cash budget for March. The budgeted beginning cash balance is $35,000. Budgeted cash receipts total $142,000 and budgeted cash disbursements total $151,000. The desired ending cash balance is $30,000.
Answers (1)
Write a report on a trend in business that you've observed, and highlight at least the main finding. For example, from the rising cost of textbooks to the online approach to course content, textbooks are a significant issue for students.
Answers (1)
Home » Business » An analytical procedure example is the comparison of: Multiple Choice a. Financial ratios of the current year to previous years. b. Recorded amounts of major disbursements with appropriate invoices. c.
Sign Up Forgot Password?