Cedric is the audit partner assigned to the engagement of Wolfram Enterprises, LLC. Cedric is interested in assigning a team to audit the client's revenue procedures and has picked a team to perform these procedures. The team manager is meeting with Cedric to discuss what analytical procedures might be appropriate to effectively audit the client's revenue process. Which of the following choices best represents procedures the audit team might undertake to audit this area? The audit team should consider calculating key ratios that pertain to revenue generation. Examples of such ratios would be accounts receivable turnover ratio and times interest earned. The audit team should consider selecting, on a test basis, a sample of revenue and receivables transactions to ensure that they are recorded in the correct periods respectively. Such a procedure would assist the auditor in testing the accuracy assertion. The audit team should consider developing an expectation of accounts payable balances based on information from prior years audits. The audit team can also examine competing firms within the same industry to help develop this expectation. The audit team should consider examining key metrics pertaining to sales such as accounts receivable turnover. Such ratios can be analyzed relative to prior years and industry averages