Question: Comparing the current - year gross margin with the prior - year gross margin to determine if cost of sales is reasonable during an audit

Comparing the current-year gross margin with the prior-year gross margin to determine if cost of sales is reasonable during an audit would be a type of:
Multiple Choice
Test of transactions.
Test of controls.
Analytical procedure.
Test of details.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

comparing the current year gross margin with the prior year gross margin to determine if cost of sales is reasonable during an audit would be a type of

Q:

comparing the current year gross margin with the prior year gross margin to determine if cost of sales is reasonable during an audit would be a type of

Q:

comparing the current year gross margin with the prior year gross margin to determine if cost of sales is reasonable during an audit would be a type of

Q:

oHelpSove 4 EntSubmitAn auditor compared the current year gross margin with the prior year gross margin to determine if cost of sales is reasonable. What type of audit procedure was performed?Mumple...

Q:

QUESTION 2.A For each of the following audit procedures, state which type of evidence-gathering technique is being used: (1) inspection or (2) computation or (3) confirmation or (4) analytical...

Q:

Fill in the blank with the proper term from the word bank below. Terms may be used more than once or not at all. Absolute Assurance Adverse Opinion AICPA Analytical Testing Attorney Inquiry Letter...

Q:

Please help with questions 5, 6, 7, 8. 3. If a c goods sold A. ompany's per unit cost of inventory purchases increased during the year, yet the cost of as a % of sales revenues was lower than the...

Q:

Find the following using the information provided. Show work if possible! Thank You! Ar 24, 2018 C $ 1 2300 14 11 E HT HOE Der 30 LAUSANBEUT C 3 FT VE 2 24 20 as 22 teater 2 HIPE 23 1 LEE am UN LIM 1...

Q:

For each of the audit procedures listed in Problem 5- 32, identify the category (assertions about classes of transactions and events or assertions about account balances) and the primary assertion...

Q:

Comparing the current - year gross margin with the prior - year gross margin to determine if cost of sales is reasonable during an audit would be a type of: D ) Analytical procedure. C ) Test of...

Q:

A sample of soil has water content of 14.7% and a cube of dimensions 10 cm x 10 cm x 10 cm weighs 18.4 N. The specific gravity = 2.72. Determine the unit weight, the specific volume and the...

Q:

Selection of core cross section for transformer design

Q:

E4.2 A closed-loop system is used to track the sun to obtain maximum power from a photovoltaic array. The tracking system may be represented by a unity feedback control system and 100 Ge(s)G(s) =...

Q:

If the following join statement is used to join two tables in a query, which of the following tables would all of the tuples in the relation appear in results? left join university.students on...