Which of the following statements is true regarding analytical techniques?
A. Ratio analysis takes advantage of economic relationships between two or more accounts.
B. Ratio trend analysis are generally carried out through a comparison of client data with expectations based on industry data, prior-period data, and expectations developed from industry trends, client budgets, and so on.
C. Developing expectations is the first step in performing analytical procedures.
D. All of the above are true.
Answer: D
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