Auditing And Assurance Services
Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Chapter 20, Problem 24DQP

a. (1)

To determine

Identify those steps mentioned that are of test of controls or substantive test of transactions.

a. (2)

To determine

Identify those steps mentioned that are tests of details of balances.

b.

To determine

Enlist the sequence of the test of control and substantive test of transaction in order of their performance in audit.

c.

To determine

Enlist the sequence of the test of details of balance properly.

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The fiscal 2023 financial statements for Orion Enterprises, Inc. report revenues of $18,450,000, and net operating profit after tax of $1,295,000. Net operating assets at the end of 2023 are $7,800,000, while the 2022 balance sheet reports net operating assets of $7,500,000. What is Orion Enterprises' 2023 net operating profit margin?
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