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    Question

    Which of the following best describes analytical

    procedures as per SA 520?
    A Testing of internal controls Correct Answer Incorrect Answer
    B Physical verification of assets Correct Answer Incorrect Answer
    C Evaluation of financial information by studying plausible relationships among data Correct Answer Incorrect Answer
    D Obtaining confirmations from third parties Correct Answer Incorrect Answer
    E Checking arithmetical accuracy of vouchers Correct Answer Incorrect Answer

    Solution

    Analytical procedures involve analysis of ratios, trends, variances, and other logical relationships to identify unusual items.

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