Question
Substantive Analytical Procedures: The auditors are performing ratio analysis. Provide an explanation for the changes in each of the ratios below 2022 2021 Explanation Accounts
Substantive Analytical Procedures: The auditors are performing ratio analysis. Provide an explanation for the changes in each of the ratios below
2022 | 2021 | Explanation | |
Accounts Receivable turnover | 7.1 | 7.5 | |
Gross Profit Margin | 34% | 30% | |
Current Ratio | 1.5 | 1.2 |
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
