ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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DUAL PURPOSE TEST Definition
DUAL PURPOSE TEST is when audit procedures are classified both as substantive tests and tests of controls. When an audit procedure provides both types of evidence it is a dual purpose test.
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EXTRAORDINARY EXPENSE see EXTRAORDINARY ITEMS.
RETURNS INWARDS are goods sold on credit to a customer and returned for some reason to be refunded for (Sales returns).