When there are numerous property and equipment transactions during the year, an auditor planning to assess the risk of material misstatement at a low risk level must perform.
a. Tests of controls and extensive tests of property and equipment balances at the end of the year.
b. Extensive tests of current year property and equipment transactions.
c. Tests of controls and limited tests of current year property and equipment transactions.
d. Analytical procedures for property and equipment balances at the end of the year.
Answer: C
CPA Exam
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