Question: (True and False) 1. Focusing on changes in financial statements from period to period can help identify analytical fraud symptoms. 2. Controls over inventory should

(True and False)
1. Focusing on changes in from period to period can help identify analytical fraud symptoms.

2. Controls over inventory should be closely examined when searching for fraud symptoms.

3. The gross profit (margin) ratio is calculated by dividing gross profit by cost of goods sold.

4. Working capital turnover ratio is calculated by dividing average working capital by sales.

5. turnover is one of the most widely used ratios to analyze revenues and is a measure of the efficiency with which receivables are being collected.

6. One of the most practical ways to look for analytical symptoms of fraud is to focus on changes and comparisons within and from the

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Focusing on changes in financial statements from period to period can help identify analytical fraud symptoms. (True/False)

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