menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Auditing Study Set 2
  4. Exam
    Exam 5: Preliminary Audit Planning: Understanding the Auditees Business
  5. Question
    Preliminary Analytical Procedures Revealed That the Gross Profit Margin Increased
Solved

Preliminary Analytical Procedures Revealed That the Gross Profit Margin Increased

Question 6

Question 6

True/False

Preliminary analytical procedures revealed that the gross profit margin increased unexpectedly from last year.As a result,the auditor should consider an increased risk of material misstatement in both sales and inventory.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q1: Which of the following statements concerning materiality

Q2: Which of the following most indicates a

Q3: The concept of materiality refers to _.<br>A)any

Q4: How should auditors use the concept of

Q5: All but which of the following statements

Q7: A bank with a large loan would

Q8: If fictitious sales were recorded and the

Q9: In the planning stage,analytical procedures are used

Q10: Generally accepted auditing standards require that analytical

Q11: Audit risk can be offset by _.<br>A)general

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines