Multiple Choice
Which of the following is accurate regarding the comparison of client data?
A) Since budgets are only projections, auditors can ignore the differences between budgeted and actual results.
B) One approach to overcome the limitations of industry averages is to compare the client to one or more benchmark firms in the industry.
C) It is impractical to relate one account balance to another balance sheet or income statement account.
D) It is extremely difficult to get industry data for comparative purposes.
Correct Answer:
Verified
Correct Answer:
Verified
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