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Which of the following statements is correct concerning analytical procedures used in planning an audit engagement? Multiple Choice They often replace the tests of controls
Which of the following statements is correct concerning analytical procedures used in planning an audit engagement?
Multiple Choice
They often replace the tests of controls that are performed to assess control risk.
They are often used to develop an auditors preliminary judgment about materiality.
They typically use financial and nonfinancial data aggregated at a high level.
They usually involve the comparison of assertions developed by management to ratios calculated by an auditor.
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