S1: Analytical procedures are required to be performed during the completion phase of the audit. S2: The entity’s objectives have direct relationship with the controls that it implements. Group of answer choices Only S1 is correct. Both S1 and S2 are correct. Both S1 and S2 are incorrect. Only S2 is correct.

S1: Analytical procedures are required to be performed during the completion phase of the audit. S2: The entity’s objectives have direct relationship with the controls that it implements. Group of answer choices Only S1 is correct. Both S1 and S2 are correct. Both S1 and S2 are incorrect. Only S2 is correct.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

S1: Analytical procedures are required to be performed during the completion phase of the audit.
S2: The entity’s objectives have direct relationship with the controls that it implements.

Group of answer choices

Only S1 is correct.

Both S1 and S2 are correct.

Both S1 and S2 are incorrect.

Only S2 is correct.

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