One Typical Difference Between the Asset Prepaid Expenses and Other

Multiple Choice

One typical difference between the asset prepaid expenses and other assets, such as accounts receivable and inventory, is the immateriality of the former in many audits.Because of this immateriality, frequently the only audit procedure necessary to perform is:

A) tests of transactions.
B) tests of control.
C) analytical procedures.
D) tests of details of balances.