The document that details the specific audit procedures for each type of test is the audit program.
The procedures that auditors follow in order to gather enough relevant audit evidence to make a professional judgment about the efficacy of an organization's internal controls.
To determine if transactions were appropriately categorized in the accounting records, audit techniques are utilized. For instance, it is possible to check purchase records for fixed assets to determine whether they were properly categorized into the appropriate fixed asset account.
To check if transactions have been recorded during the appropriate reporting period, audit processes are utilized. For instance, the shipping log can be examined to determine whether shipments to clients on the final day of the month were properly documented.
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Answer:
I don't think we should prioritize want
Explanation:
This question is more or less an opinion where there's no right or wrong answers.
<em>However, I'll answer your question from my own personal view of want.</em>
I think we do not need to give priorities to wants because, our wants, according to economics are insatiable and unlimited. Meaning that, when you give priorities to an unlimited entity called want, you will not get satisfaction due to the fact that they are unlimited.
In other words, the moment you achieve one of your wants; you will be be presented with another set of wants.
Answer:
The formula to calculate the Budget Balance is
Government Income - Government Expenditure
in this case
$1.05 billion - $1.06 billion = -<u> 0.01 billion or - $100 million</u>
Explanation:
A budget balance is reached when a government expenditures are equal to it's income.
In this case, since the country's only source of income it is slightly less than than what is required to run the government, it has a budget deficient.
Since the country does not export or trade with outside countries, the government will need to take out a loan to make up for this deficient.
Answer: diseconomies of scale
Explanation:
Diseconomies of scale is a scenario that occurs when the growth of a particular company brings about an increase in the company's cost per unit. A rise in output in turn, leads to a rise in cost.
Therefore, if a large, undiversified oil company used information technology in order to manage organizational coordination, it is likely trying to offset problems with diseconomies of scale.