Question: Collette, an external auditor, is planning to perform analytical procedures for Garfield Corporation. Which of the following information would make Collette conclude that there is

  1. Collette, an external auditor, is planning to perform analytical procedures for Garfield Corporation. Which of the following information would make Collette conclude that there is less predictability in the data Collette is analyzing?
  • The related transactions which Collette is analyzing are subject to management discretion.
  • The relationships being analyzed involve income statement accounts.
  • There are large volumes of similar transactions.
  • Garfield Corporation has been in the industry for more than 50 years, and is not subject to rapid changes.

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