Answered: The objective of dual-purpose tests is…

The objective of dual-purpose tests is to: A. Test internal controls as well as transactions and balances using the same test procedures. B. Identify unusual trends

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

The objective of dual-purpose tests is to:

A. Test internal controls as well as transactions and balances using the same test procedures.

B. Identify unusual trends or patterns in comparative financial statements.

C. Evaluate whether internal controls are operating effectively.

D. Detect material misstatements in the financial statements.

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