Analytical procedures consist of ‘evaluations of financial information through analysis of plausible relationships among both financial and non-financial data’. They also encompass ‘such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount’ (ISA 520). To choose: The option that best describes the meaning of planning analytical procedures.

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Answer 1

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Chapter 7, Problem 24MCQ

To determine

Introduction: Analytical procedures consist of ‘evaluations of financial information through analysis of plausible relationships among both financial and non-financial data’. They also encompass ‘such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount’ (ISA 520).

To choose: The option that best describes the meaning of planning analytical procedures.

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Answer 2

Question

Chapter 7, Problem 24MCQ

To determine

Introduction: Analytical procedures consist of ‘evaluations of financial information through analysis of plausible relationships among both financial and non-financial data’. They also encompass ‘such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount’ (ISA 520).

To choose: The option that best describes the meaning of planning analytical procedures.

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Answer 3

Question

Chapter 7, Problem 24MCQ

To determine

Introduction: Analytical procedures consist of ‘evaluations of financial information through analysis of plausible relationships among both financial and non-financial data’. They also encompass ‘such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount’ (ISA 520).

To choose: The option that best describes the meaning of planning analytical procedures.

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Answer 4

Question

Chapter 7, Problem 24MCQ

To determine

Introduction: Analytical procedures consist of ‘evaluations of financial information through analysis of plausible relationships among both financial and non-financial data’. They also encompass ‘such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount’ (ISA 520).

To choose: The option that best describes the meaning of planning analytical procedures.

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Answer 5

Chapter 7, Problem 24MCQ

To determine

Introduction: Analytical procedures consist of ‘evaluations of financial information through analysis of plausible relationships among both financial and non-financial data’. They also encompass ‘such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount’ (ISA 520).

To choose: The option that best describes the meaning of planning analytical procedures.

Answer 6

Chapter 7, Problem 24MCQ

To determine

Introduction: Analytical procedures consist of ‘evaluations of financial information through analysis of plausible relationships among both financial and non-financial data’. They also encompass ‘such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount’ (ISA 520).

To choose: The option that best describes the meaning of planning analytical procedures.

Answer 7

Chapter 7, Problem 24MCQ

To determine

Introduction: Analytical procedures consist of ‘evaluations of financial information through analysis of plausible relationships among both financial and non-financial data’. They also encompass ‘such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount’ (ISA 520).

To choose: The option that best describes the meaning of planning analytical procedures.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 7 - Prob. 1TFQ Ch. 7 - Prob. 2TFQ Ch. 7 - Prob. 3TFQ Ch. 7 - Prob. 4TFQ Ch. 7 - Prob. 5TFQ Ch. 7 - Prob. 6TFQ Ch. 7 - Prob. 7TFQ Ch. 7 - Prob. 8TFQ Ch. 7 - Prob. 9TFQ Ch. 7 - Prob. 10TFQ

Solution Summary: The author explains the meaning of planning analytical procedures and recommends a risk-based approach to auditing.

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Chapter 7 Solutions