True or false:

1. Analytical procedures are required in the performance of every audit. _______________

2. An audit clients total revenue capacity is not relevant to the revenue audit. ________________________

3. Analytic procedures are a substantive procedure to gather evidence. __________________--

4. Analytical procedures may reduce the extent of tests of transaction details and balances. __________________

5. Confirmation of accounts receivable is required regardless of the amount of receivables. _________________