Question: What statement below is not true in regards to performing substantive analytical procedures to test long term liability balances? a . Substantive analytical procedures also

What statement below is not true in regards to performing substantive analytical procedures to test long term liability balances?

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Substantive analytical procedures also encompass the investigation of identified fluctuations and relationships that are inconsistent with other relevant information.

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Substantive analytical procedures only need to be performed over income statement accounts and not balance sheet accounts.

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The auditor needs to have a good understanding of the client's business to develop appropriate expectations.

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Substantive analytical procedures consist of evaluations of financial information made by a study of plausible relationships between both financial and nonfinancial data.

What statement below is not true in regards to performing substantive

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