Which of the following is least effective while searching for anomalies?
a. Comparing account balances in the statements from one period to the next.
b. Calculating key ratios and comparing them from one period to the next.
c. Performing horizontal analysis.
d. Performing vertical analysis.
a
FEEDBACK: a. Correct. Assessing levels of change by comparing account balances is least effective in identifying anomalies because financial statement numbers are often large and difficult to compare.
b. Incorrect.
c. Incorrect.
d. Incorrect.
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