An abnormal fluctuation in gross profit that might suggest the need for extended audit procedures for sales and inventories would most likely be identified in the planning phase of the audit by the use of:
A. analytical procedures.
B. tests of transactions and balances.
C. a preliminary review of internal controls.
D. specialized audit programs.
Answer: A
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a. True b. False
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What will be an ideal response?
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a. True b. False Indicate whether the statement is true or false