Data Analytics For Accounting
Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Chapter 8, Problem 3DQ

Why do audit firms perform analytical procedures to identify risk? Which type of ratios (liquidity, solvency, activity, and profitability ratios) would you use to evaluate the company’s ability to continue as a going concern?

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Which of the following is the least independent piece of information to collect about a company that is a potential M&A target? A. Internal audits B. Fun and Bradstreet reports  C. Audited financial statements  D. Relevant macroeconomics outlooks from an independent research organization
What is the purpose of an audit? A) To provide investment advice to shareholders B) To ensure that financial statements are accurate and comply with accounting standards C) To manage and control a company's financial resources D) To predict a company's future financial performance
Which of the following is the best description of reliability in relation to information in financial statements? Comprehensibility to users      Influence on the economic decisions Freedom from material error and bias        Inclusion of degree of caution of users
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